UBM plc, a multinational media company and event organizer, acquired Expo CIHAC from Centro Impulsor de la Construcción y Habitación A.C. (CIHAC), the Mexican construction industry trade association.
The acquisition is complemented by an agreement with CIHAC providing for its long-term support for Expo CIHAC.
“We are delighted to have Expo CIHAC as UBM’s first tradeshow acquisition in Mexico. Expo CIHAC builds on UBM’s established strategy of acquiring strong events, which serve structurally growing markets and communities,” said Jaime Salazar, managing director, UBM Mexico. “We look forward to welcoming the Expo CIHAC team to UBM, and to continuing our close, positive co-operation with the CIHAC association.”
Expo CIHAC was launched in 1989 and is now among Mexico’s 10 largest tradeshows and the largest serving the infrastructure, construction and housing markets. Held annually in October, Expo CIHAC exhibitors span the industry, including construction materials, machinery, equipment, hand and power tools, prefabricated building systems and technologies, financial services, real estate, insulation and piping. Expo CIHAC also hosts around 30 co-located conference and technical seminars on topical issues. Last year’s 25th edition attracted 30,000 attendees and over 500 exhibitors, and generated revenues of approximately £4 million.
The Mexican construction industry is seeing significant investment driven by growth in the Mexican economy, demand for housing and government infrastructure funding programs. The Mexican construction industry is also increasingly looking to adopt sustainable construction practices and technologies in use in Europe, Canada and the U.S.
Expo CIHAC is complementary to a number of UBM shows serving the global Built Environment sector, including Negocios Nos Trilhos, the Concrete Show Brasil, which has a Mexican edition launching this May, and Ecobuild with an Expo CIHAC / Ecobuild collaboration announced earlier this year. Return on the acquisition is expected to exceed UBM’s cost of capital in the first full year of ownership.
Expo CIHAC is based in Mexico City. Eleven of the business’s existing employees will transfer to UBM.