Press Release: London based Clarion Events, one of the world’s leading independent events organisers, has completed a merger with Global Sources, a leading Asian exhibitions and online B2B marketplace operator based in Hong Kong. Funds managed by Blackstone will control the combined group. Terms of the transaction were not disclosed.
Combining both market-leaders will create one of the largest privately-owned exhibitions businesses globally, with substantial scale across Asia, Europe and North America, organising 200 events per year and generating more than £300m of Revenues. The combined group will be led by the existing Clarion management team under Chief Executive Officer Russell Wilcox and Chairman Simon Kimble. The new group will continue to operate under the name Clarion Events, with the Global Sources brand identity retained in the Asian region.
Commenting on the announcement, Russell Wilcox, CEO of Clarion Events, said: “This merger marks an important milestone for both companies as we embark on an exciting new chapter. With the support of Blackstone, the new Group is well positioned to take advantage of our combined scale and global platform. We look forward to working with the Global Sources management, and believe that the remarkable expertise and capability of the combined company offers a very strong opportunity for future growth.”
Lionel Assant, Head of European Private Equity at Blackstone, added: “We are very excited by the merger. There is significant opportunity in the events space globally and this is a perfect strategic fit driven by tremendous growth potential.”
About Clarion Events
Clarion is one of the world’s leading events organisers, producing and delivering innovative and market-leading events since 1947. In more recent times the firm has grown into a truly international business, with a portfolio of events and media brands across a range of vertical markets. Our 1000 employees based in our 13 offices worldwide specialise in delivering first class marketing, networking, and information solutions in high value sectors, both in mature and emerging geographies.
About Global Sources
Global Sources is a leading regional exhibitions and online B2B marketplace operator based in Hong Kong. The Company operates 8 semi-annual export-oriented sourcing exhibitions in Hong Kong, including the largest electronics and mobile electronics shows in the world, as well as an annual machinery show in China. Collectively, the Company’s exhibitions host over 10,000 exhibitors and 200,000 attendees each year and its B2B marketplace, GlobalSources.com, serves a community of more than 1.5 million professional buyers worldwide
About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with over $385 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.