Blackstone is Planning to Sell Clarion Events

Blackstone has engaged Goldman Sachs to handle the sale of Clarion Events, according to a source familiar with the plans.

According to strategy consulting firm Stax, Clarion is the third-largest exhibition organizer by 2023 revenues. The company posted revenues of $561 million (£433 million) in 2023, up from $333 million (£257 million) in 2022. Its pre-tax operating profit of $91.5 million (£70.6m) was a significant improvement after losing money in 2022. 

In August, Reuters said Clarion could be sold for up to $2.6 billion.

The events industry has become fertile ground for acquisitions. Just in the past few months, Clarion acquired Information Forecast (Infocast); private equity firm Truelink Capital acquired GES Exhibitions; New State Capital Partners acquired a majority stake in The Expo Group; and CloserStill Media acquired a majority stake in Partnership Network Events.

Another big deal was Hyve Grop's acquisition of HLH, a UK-based global event company for international health innovators. 

Clarion Has Been Blackstone-Backed Since 2017

Blackstone acquired Clarion Events in 2017 for $750 million. It has supported Clarion’s customer-centric approach through multiple acquisitions, launches, and a culture that embraces digital and data-driven strategies.

“As with any investment Blackstone, or any other PE investor, holds, there comes a time when a transaction will occur,” said Liz Irving, president of Clarion Events North America. “While we don’t have specific timing on when that may be for Clarion, our commitment to delivering value and innovation for customers remains constant.”

Clarion supports a portfolio of 125 events and brands. Markets include retail and home, gaming, defense and security, technology and energy. Recently-acquired Infocast will be part of its North American arm. North America and Asia were each responsible for 30% of its revenue last year. Europe accounted for 40%. 

The company was founded in 1947 and has expanded to include 50 offices in 12 countries and 2,000 global employees.