Reuters reports that Blackstone has put Clarion Events up for sale
Reuters has reported that Blackstone has kick-started the process of selling Clarion Events, the owner of ICE and IGBLive!, with a price tag of £2bn.
The news agency has spoken to four sources close to the deal, saying that the exhibition and events company has been marketed to potential suitors, including CVC, KKR, PAI Partners, Ardian, and Hillhouse Investment. Blackstone bought Clarion in 2017 for £600m with sources believing it could fetch an asking price of around 12x EBITDA.
Clarion claims the mantle of being the ‘world’s largest privately owned event and exhibition organiser’ with ‘a portfolio of 125 events and media brands across various vertical markets’ from gaming and defense, energy transition and consumer electronics to the London International Horse Show. It has offices in 12 countries and employs around 2,000 people worldwide. Its revenue reached £432.9m last year.
