The announcement comes almost two months after FOLIO: first reported parent company Nielsen Holdings N.V. was exploring a sale.
“This is an exciting development in the history of the Nielsen Expositions business,” David Loechner, president of Nielsen Expositions, says in a statement. “Onex’s experience and successful track record in executing similar corporate carve-outs and building those divisions into industry-leading businesses position it as a strong partner. We look forward to working with Onex to execute our strategic plan and to continue to grow the business to better serve the exhibitors and attendees who participate in our events, all the while providing a seamless, business-as-usual transition for our clients and associates.”
In 2012, Nielsen’s expo division had revenue of approximately $183 million with adjusted EBITDA of $97 million. Those earnings account for about 3 percent of Nielsen Holdings’ total, according to the company’s annual report.
Organizing more than 65 tradeshows and events each year, the unit’s major holdings include ASD, the Hospitality Design Expo (HD Expo), the Kitchen & Bath Industry Show (KBIS), the Outdoor Retailer Summer and Winter Markets and Interbike. According to its annual report, Nielsen Expositions has more than 40 events spread across 20 industries and connects 300,000 buyers and sellers each year.
“Nielsen Expositions’ strength in the U.S. business-to-business tradeshow industry is evidenced by its high renewal rates, long-standing exhibitor relationships, and the brand strength of the underlying shows,” says Kosty Gilis, an Onex managing director, in a release. “This is a great opportunity to partner with David and his management team to build on the company’s market leadership position through continued expansion of its existing shows as well as select acquisitions.”
Nielsen Expositions suffered a 7-percent decline in revenues, according its recent first quarter earnings report.
Onex, with offices in Toronto, London and New York, has about $15 billion of assessments under its management. Its shares are traded on the Toronto Stock Exchange.
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