UBM Ups Investment in Mexico, Buys Construction Event
Event is second in Mexico for UBM.
UBM is adding to the wave of major event organizations investing in Mexico. The London-based show producer has acquired Expo CIHAC, what it calls one of the 10 largest trade shows in the rapidly growing Mexico market.
Terms weren't released, though the construction industry association behind the showâ€”Centro Impulsor de la Construccion y Habitacion A.C. (CIHAC)â€”is signing on to provide "long-term" support. Eleven of the group's existing employees will stay on as well.
Expo CIHAC, which serves the infrastructure, construction and housing markets, drew 30,000 attendees, attracted 500 exhibitors and generated around $6.8 million in revenue last year, according to UBM.
"We are delighted to have Expo CIHAC as UBM's first tradeshow acquisition in Mexico," says Jaime Salazar, managing director of UBM Mexico, in a statement. "Expo CIHAC builds on UBM's established strategy of acquiring strong events which serve structurally growing markets and communities. We look forward to welcoming the Expo CIHAC team to UBM, and to continuing our close, positive cooperation with the CIHAC association."
The show is UBM's second in Mexicoâ€”both of which are aimed at the construction market. The Expo CIHAC acquisition follows the launch of Concrete Show Mexico, an extension of UBM's Concrete Show Brazil property, which will be held at the Centro Banamex in Mexico City later this month (May 21-23).
UBM also maintains several offices in Mexico.
Expo CIHAC 2014 will be held Oct. 14-18 at the Centro Banamex in Mexico City.