Emerald Expositions only recently announced its acquisition of the CEDIA trade show (photo right)
A deal may be in the works for the sale of Emerald Expositions LLC, Reuters has reported, though details of the potential sale have not yet been made public, the news agency said.
Citing sources close to the situation, Reuters said Onex Corp, a private equity firm, has hired Bank of America Corp. to run an auction for Emerald, and that it might consider an initial public offering for the company if it is not satisfied with acquisition offers.
Emerald is one of the nation’s largest trade show organizers with a reported before-tax income of $160 million last year. The terms of the sale being considered could value the company at nearly $2 billion, a significant jump from its purchase price of $950 million when Onex acquired it in 2013. Since then, Emerald has grown its roster of trade shows to nearly 50, including 30 of the country’s largest exhibition events.
In 2014, the company acquired George Little Management – organizer of Surf Expo and the National Stationary show – for $335 million, and in January, officials announced the acquisition of home technology show CEDIA for an undisclosed sum.
For more information on Emerald, please visit www.emeraldexpositions.com.