CloserStill Media Sells to Searchlight in $1.8B Deal as Providence Stays On

Searchlight Capital Partners has agreed to invest in CloserStill Media alongside existing owner Providence Equity Partners, in a recapitalization that values the B2B events operator at around £1.3 billion ($1.77 billion), according to A Media Operator.

The deal, announced today, gives Searchlight and Providence co-control of the London-based company. Providence, which has owned CloserStill since 2018, will have the opportunity to re-invest to support what the firms called the company's next phase of growth. The transaction is subject to regulatory approvals.

CloserStill operates events across four verticals: technology, healthcare, learning and HR, and future transport and infrastructure. Its portfolio includes Ai4, Data Centre World, the London Vet Show, Learning Technologies, and the Tech Show series. The company has roughly 850 employees and generates over $300 million in annual revenue, with EBITDA margins north of 30%, according to figures CEO Gareth Bowhill previously shared. Roughly 70% of revenue is international. CloserStill reported revenue of $271 million (£200 million) and adjusted EBITDA of $85 million (£62.6 million) for 2024 in its most recent Companies House filing.

Under Providence's ownership, CloserStill has grown fivefold and added a fourth vertical. The company has executed about 12 acquisitions over the past three years, including a 2025 run that expanded its U.S. footprint with deals for Ai4, Digital Health Intelligence/Rewired, PARCEL Forum, and a majority stake in Partnership Network Events.

The latest launch came in March, when CloserStill announced Data Center Americas, a new U.S. event scheduled for March 31 to April 1, 2027, at the Walter E. Washington Convention Center. The launch extends the company's Data Centre World portfolio — which drew more than 33,000 attendees across London, Frankfurt, Paris, Madrid, and Singapore in 2025 — into the U.S. market.

"We are incredibly excited to embark on this next chapter in CloserStill's evolution," Bowhill said in a statement. "We believe partnering with two experienced B2B event investors in Searchlight and Providence, who share our vision and ambition, positions us strongly to accelerate our growth and unlock new opportunities."

Searchlight said its investment will support continued bolt-on M&A in the fragmented global events market, the launch of new events in adjacent sectors, and further investment in CloserStill's digital and sales platforms.

This is the second deal Searchlight and Providence have done together in B2B events. The two firms co-sponsored the June 2023 acquisition of Hyve Group for around $711 million (£524 million).

The auction had been running for several months, with bids due April 2 and an expected enterprise value of 12-13 times forecast earnings, according to Flashes & Flames.

Reuters reported on April 29 that Apax Partners had emerged as a possible frontrunner at over $1.62 billion (£1.2 billion) before Providence and Searchlight ultimately agreed to terms at the higher price.

The transaction comes after a sluggish period for large events M&A. Blackstone's attempted sale of Clarion Events — which Reuters reported was seeking up to £2 billion — did not materialize last year. The CloserStill deal would rank among the largest in the European events sector since Informa acquired UBM for $5.2 billion (£3.8 billion) in 2018.

James Redmayne, partner and head of European private equity at Searchlight, said CloserStill is "one of the leading global platforms in B2B events—a sector we know well and have high conviction in."

Providence acquired its majority stake in CloserStill in 2018 for £340 million from Inflexion Private Equity, NVM Private Equity, and management, according to Reuters. The new transaction values the business at nearly four times that figure.