Key Deals of the Year: 2025 M&A Roundup

Unlike previous years dominated by headline-grabbing mega-deals, activity in 2025 centered on strategic acquisitions aimed at expanding geographic reach, strengthening service offerings, and deepening technology capabilities.

December Releases Pent-Up Demand

Five major transactions were announced in a single day in December. Encore continued its buying streak with its second acquisition in less than two weeks, expanding into event planning with the purchase of FIRST, a global brand experience agency. 

Experiential agency Spiro, part of GES, acquired London-based creative agency 2Heads, strengthening its footprint across North America and Europe.

Easyfairs made its first North American acquisition by purchasing the Energy Projects Conference & Expo, while Unbridled and OrangeDoor merged to form a 234-person transatlantic events agency. 

Meanwhile, Bending Spoons acquired Eventbrite, easing years of Wall Street pressure on the long-struggling ticketing platform.

Cvent closed 2025 with the acquisition of Goldcast, an AI-powered video platform for B2B webinars and events. The deal signals Cvent's strategy to extend event value through automated video content creation across its approximately 30,000 customer base.

In December, The Vomela Companies, a St. Paul-based group of 10 companies providing specialty graphics, acquired Moss, a graphics, signage, and custom fabrication company focused on events, exhibits, and retail. The acquisition expands Vomela's footprint, adding to more than 20 production facilities and 1,600 employees across North America. 

At the end of the year, MCI Group acquired Tipik, a Brussels-based digital communications agency, from parent company Sword Group. This move will help MCI expand its institutional communications capabilities across Europe. It follows the group's acquisition of ESN (European Service Network) last December.

Policy and Cost Pressures Temper Dealmaking

The late-year dealmaking capped a year that began with heightened concerns around rising costs, geopolitical instability, and shifting U.S. trade policy. President Trump’s aggressive tariff policies introduced in March added further volatility, particularly for production- and fabrication-heavy segments of the industry, prompting some companies to pause transactions amid uncertainty.

Doug Emslie, chairman of Cuil Bay Capital, said that hesitation is likely to give way to larger transactions in the year ahead.

“A lot of things went on pause this year due to uncertainty; some things have not happened,” Emslie said. He expects 2026 to bring “even bigger” deals fueled by increased private equity investment. “Confidence in the industry is coming through,” he said.

Targeted Expansion Defines Early 2025

The year kicked off with Clarion Capital Partners completing its acquisition of Marketplace Events in January, marking the private equity firm's first holding in the events industry. Marketplace Events produces more than 110 business-to-consumer shows across 54 U.S. and Canadian markets, having acquired 31 shows from Master Promotions.

In March, Freeman acquired Tag Digital, a UK-based digital marketing agency. The acquisition combined Tag Digital with mdg, Freeman's existing agency business, creating digital marketing capabilities driven by AI.

Consolidation also reshaped the destination management sector. In March, 360 Destination Group and CSI DMC announced their merger, creating one of the largest destination management companies in the U.S. The combined company, which rebranded as Cohera in October, brought together $200 million in revenue, 360 employees, and operations across 46 U.S. destinations.

Emerald expanded its global reach with the acquisition of This is Beyond, a London-based luxury travel events company founded in 2009 by Serge Dive. The company produces events including PURE Life Experiences in Marrakech, LE Miami, We Are Africa in Cape Town, and Further East in Bali. The deal closed on May 1.

Mid-year, WiSA Technologies, which later rebranded as Datavault AI, acquired CompuSystems Inc. (CSI), a provider of registration, lead retrieval, and data analytics services for approximately 150 events. CompuSystems was expected to contribute between $13 million and $15 million in revenue and $3 million to $4 million in EBITDA in 2025.

CloserStill Media executed several acquisitions in 2025, expanding its North American footprint. The acquisitions included Digital Health Intelligence (DHI)/Rewired and Ai4.

In June, CloserStill Media acquired PARCEL Forum, a conference and expo dedicated to the small-package fulfillment industry. 

Questex made acquisitions that strengthened its healthcare and life sciences portfolio. The company acquired The Conference Forum and Versalinx Global Events, two organizers of pharmaceutical, biotech, and healthcare conferences.