London, 22nd July: Global private equity firm, Blackstone announced that the company will buy U.K.-based Clarion Events from Providence Equity Partners. The transaction value will be approximately £600 million (US$785 million).
Headquartered in London, Clarion has over 950 employees in 13 offices worldwide. The company was founded in 1947 and operates events covering a wide range of categories including: retail & home, gaming, defence & security, technology and energy. Each year, Clarion organises some 180 events and exhibitions in more than 50 countries.
This deal follows soon after Blackstone’s acquisition of NASDAQ-listed Global Sources in May. Global Sources held a special general meeting of shareholders on 24th July to approve the acquisition of Global Sources by funds affiliated with Blackstone. When the acquisition completes, Global Sources will be delisted from the NASDAQ Global Select Market.