Officials for the Onex Corp. have reached an agreement to acquire Nielsen Expositions from its parent, an affiliate of Nielsen Holdings N.V., for $950 million in cash consideration.
“This is an exciting development in the history of the Nielsen Expositions business,” said David Loechner, president, Nielsen Expositions. “Onex’ experience and successful track record in executing similar corporate carve-outs and building those divisions into industry-leading businesses position it as a strong partner. We look forward to working with Onex to execute our strategic plan and to continue to grow the business to better serve the exhibitors and attendees who participate in our events, all the while providing a seamless, business-as-usual transition for our clients and associates.”
Nielsen Expositions is a leading operator of large, business-to-business tradeshows in the U.S. The transaction is anticipated to close in the second quarter of 2013.
Based in San Juan Capistrano, Calif., Nielsen Expositions produces more than 65 business-to-business tradeshows and conference events each year across nine diversified end-markets, including general merchandise, sports, hospitality and retail design, jewelry and photography. Nielsen Expositions has approximately 240 employees and operates out of four U.S. offices. For the year ended Dec. 31, 2012, Nielsen Expositions generated revenues of approximately $183 million, adjusted EBITDA of $97 million and incurred capital expenditures of $2 million on a stand-alone basis.
“Nielsen Expositions’ strength in the U.S. business-to-business tradeshow industry is evidenced by its high renewal rates, long-standing exhibitor relationships, and the brand strength of the underlying shows,” said Kosty Gilis, an Onex Managing Director. “This is a great opportunity to partner with David and his management team to build on the company’s market leadership position through continued expansion of its existing shows as well as select acquisitions.”
Onex Partners III, Onex’ $4.7 billion private equity fund, will make an equity investment of approximately $350 million, of which Onex’ share is approximately $85 million as a Limited Partner in the Fund.
With offices in Toronto, New York and London, Onex is one of the oldest and most successful private equity firms. Onex acquires and builds high-quality businesses in partnership with talented management teams. The Company has approximately $15 billion of assets under management, including $5 billion of proprietary capital, in private equity, credit securities and real estate. Onex’ businesses have assets of $44 billion, generate annual revenues of $37 billion and employ approximately 243,000 people worldwide.
Nielsen Expositions is a leading operator of large business-to-business tradeshows in the United States, producing more than 65 tradeshows and conference events per year and connecting more than 335,000 buyers and sellers across nine diversified end-markets, including general merchandise, sports, hospitality and retail design, jewelry, photography, decorated apparel, building, healthcare and military. Nielsen Expositions is headquartered in San Juan Capistrano, California. The company’s shows are typically the most prominent and important for exhibitors and attendees within their various industries.
Nielsen Holdings N.V. is a global information and measurement company with leading market positions in marketing and consumer information, television and other media measurement, online intelligence, mobile measurement, trade shows, and related properties. Nielsen has a presence in approximately 100 countries, with headquarters in New York City and Diemen, the Netherlands.