Destination Management Company 360 Destination Group (360DG) and CSI DMC are being merged but will continue to operate as standalone entities and are planned to be unified by a single brand by the end of the year. There may be more transactions to follow.
The two together have $200 million and 360 employees’ income. They are now operating in 46 destinations in the United States.
According to the 2024 DMC ranking for Special Events, 360DG’s revenue in 2023 is $75 million. The company manages approximately 750 activities. CSI DMC earned $86 million and managed 700 programs in 2023 (the last special event ranking).
The merger highlights Wall Street’s growing interest in the business activities industry. “This deal once again proves the value of our industry and the valuable services we provide. We have attracted the attention of investment companies.
The merger was facilitated by 369DG and Oaklins Desilva+Phillips’ CSI’s 369DG and Oaklins Desilva+Phillips.
Are there more deals coming soon?
Target, Channing Hamlet, managing director and co-founder of investment banking and valuation, predicts that a more merger will come with it.
“Customers prefer to work with larger organizations where they can build long-term relationships without having to choose new partners to work with each time they head to another location,” Hamlet said.
Additionally, more DMCs may expand their products. “You might see DMC start merging other services, whether it’s shipping, speakers or entertainment. So they can fully integrate it into the solutions they offer.”
Helping 360DG put this deal together has taught a lot about DMC. “When I got into this, the most surprising thing was how complex it was to build a good high-quality activity for large groups. The backend system of tracking, coordination and organization of many different things had to come together in the same location for the activity to take place.”
