Private Equity Makes Another Investment in the Events Industry

Truelink Capital, a Los Angeles-based private equity firm, has acquired GES Exhibitions, a global exhibitions and logistics services company. 

GES will become a privately owned, stand-alone company within Truelink’s business portfolio.

The Truelink deal also includes four other companies. Global experiential agency Spiro; onPeak, a hotel accommodations company; Showtech, a rental company that services venues in Canada; and Visit, an event technology company.

Truelink is paying $535 million, a low price given the size of GES. Last year, GES’ parent company Viad reported revenue of $888.4 million.

Confidence in the Events Industry

Many feel this deal demonstrates confidence in the potential for future growth in the events industry.

“There is and remains a lot of interest of investors to buy into our events and exhibition sector. This transaction shows this again,” said Kai Hattendorf, the CEO of UFI, The Global Association of the Exhibition Industry. “We will continue to see such investment into all elements of our sector, into organizers, venues, and suppliers, and this will drive further evolution across the value chain.”

“This move signals a belief in the continued strength and expansion of the sector, as GES and its suite of companies have been at the forefront of innovation and service,” said Julie Kagy, executive director of the Exhibition Services & Contractors Association (ESCA).

One of the biggest acquisitions of the year was Maritz acquiring Convention Data Services (CDS), a registration, on-site and lead management company from Freeman. That deal followed The Expo Group, an events services company, being sold to private equity firm New State Capital Partners at the end of September.

A week earlier CloserStill Media acquired a majority stake in Partnership Network Events, the producer of hosted-buyer events and conferences in the UK, U.S., and Middle East. Before that, Phoenix Equity Partners invested in Nineteen Group, a trade show company.

Last June, MSouth acquired Fern Exposition Services, a trade show service provider and general contractor. This resulted in Fern joining forces with Nth Degree, a trade show management, labor, and event production company, another MSouth portfolio company.