Blackstone Becomes New Majority Shareholder of Clarion Events

Leading events organiser Clarion confirmed today it has signed an acquisition agreement with one of the biggest investment firms in the world, Blackstone. Under the terms of the deal, Blackstone Group is to acquire the majority of Clarion’s shares in exchange for the sum of £600 million.

The acquisition is to be made possible with Clarion’s private equity funds that were previously managed by the credit investment company Providence Equity Partners as was announced in a press release by Blackstone. Some of the other private equity companies to partake in the bid for the acquisition of Clarion Events included the Chinese investment firm Xio and the British company Cinven.

The new owner of Clarion is to become the majority shareholder of the event organiser, a position which was occupied by Providence Equity Partners up to this point. The credit investment company acquired the events organiser back in 2015, after paying the sum of £200 million. This amount was an increase from the initial sum of £120 million, offered by rival private equity company Veronis Suhler Stevenson back in 2008.

Clarion is among the largest event organisers in the world as it holds the exclusive rights for more than 180 events, conferences, and exhibitions across 50 different countries. The company was founded over half a century ago, in 1947, and has grown to expand into an internationally recognised business with a strong presence on various important markets. The organiser now handles an extensive portfolio of events across different sectors such as online gaming, defence and security, technology, and retail and home.

Some of the most notable gaming-related events handled by Clarion include the iGaming Super Show, the International Casino Exhibition, and the EIG Conference. The event organising company also owns the assets for the iGaming Business magazine. Based in London, Clarion employs over 950 people across its offices in 13 different countries.

Russell Wilcox, Chief Executive Officer of Clarion Events, revealed the company has been exploring various alternatives for additional investments since the beginning of 2017. Wilcox expressed his satisfaction about finally bringing this process to a conclusion by securing Blackstone as Clarion’s majority shareholder. According to Wilcox, Blackstone is an investment company which possesses the necessary resources and network to further Clarion Events’ further expansion.

Wilcox concluded by commending former majority shareholder Providence Equity Partners for the productive relationship it had established with the event organising company. Despite selling the majority of its shares in Clarion, the private equity firm will still have the opportunity of reinvesting some of its earnings from the sale back into the event organising company.

Lionel Assant, Senior Managing Director and European Head of the investment firm Blackstone commented that Clarion’s established position in international markets along with its good management team will further both the company’s organic growth and its development via future mergers and acquisitions.

The news of the acquisition agreement came only days after it was announced that Blackstone and CVC Capital Partners jointly launched a bid to buy prepaid payment solutions company Paysafe for the sum of £3 billion.

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Olivia Cole

Olivia Cole has worked as a journalist for several years now. Over the last couple of years she has been engaged in writing about a number of industries and has developed an interest for the gambling market in the UK.
Daniel Williams
Casino Guardian covers the latest news and events in the casino industry. Here you can also find extensive guides for roulette, slots, blackjack, video poker, and all live casino games as well as reviews of the most trusted UK online casinos and their mobile casino apps.

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