Los Angeles-based private equity firm Truelink Capital has acquired global exhibition and logistics services company GES Exhibitions.
GES will become a private, independent company within the Truelink portfolio.
The Truelink deal also includes four other companies. Spiro, a global experience agency; onPeak, a hotel accommodation company; Showtech, a rental company serving Canadian venues; and Visit, an events technology company.
Truelink paid $535 million, a low price considering GES’s size. Last year, GES parent company Viad reported revenue of $888.4 million.
Confidence in the events industry
Many believe the deal shows confidence in the events industry’s future growth potential.
“Investors continue to have great interest in investing in our events and exhibitions sector. This transaction once again proves this,” said Kai Hattendorf, CEO of UFI, the global association of the exhibition industry. “We will continue to see this type of investment in all elements of our industry, organizers, venues and suppliers, which will drive further development across the value chain.”
Julie Kagy, executive director of the Exhibition Services and Contractors Association (ESCA), said: “This move signals confidence in the continued strength and expansion of the industry, as GES and its family of companies have been at the forefront of innovation and service. cutting edge.
One of the biggest acquisitions this year was Maritz’s purchase of Convention Data Services (CDS), a registration, field and lead management company from Freeman. Previously, event services company The Expo Group was sold to private equity firm New State Capital Partners at the end of September.
A week ago, CloserStill Media acquired a majority stake in Partnership Network Events, an organizer of buyer events and conferences in the UK, US and Middle East. Previously, Phoenix Equity Partners invested in trade show company Nineteen Group.
Last June, MSouth acquired Fern Exposition Services, a trade show services provider and general contractor. That led Fern to join forces with Nth Degree, a trade show management, labor and event production company and another company in MSouth’s portfolio.
