New York-based private equity manager Blackstone announced that it has acquired Clarion Events, the London-based independent event organizer that is the producer of ICE Totally Gaming, Europe’s largest gaming trade show.
Since its formation in 1947, Clarion has grown into an international business with an established market-leading platform. In addition to the ICE gaming show, Clarion boasts global leadership positions across a range of vertical markets, including retail & home, defense and security, technology and energy. The company produces more than 180 annual events and exhibitions in more than 50 countries.
“We are delighted to invest in Clarion and back Chairman Simon Kimble and CEO Russell Wilcox in the company’s next chapter,” said
Lionel Assant, head of European private equity at Blackstone. “Clarion’s leading position in its markets combined with its strong management team will enable the company to continue growing both organically and through M&A. Blackstone has a significant track record of investing in media businesses as well as buy-and-build platforms. We look forward to working together with management to capitalize on its success.”
Andrew Tisdale, managing director of Blackstone fund Providence, said, “We are delighted to have partnered with the outstanding team at Clarion. They have delivered both impressive organic growth and executed a compelling acquisition strategy. Clarion has developed an exceptional entrepreneurial culture, and we feel fortunate to have worked with them so closely. We believe and fully support their strategy and its ongoing implementation—and are pleased to have the option to participate in Clarion’s future success.”
Clarion is headquartered in London with over 950 employees in 13 offices worldwide. Providence, which invested in Clarion in 2015, has an option to reinvest a portion of its proceeds from the sale into Clarion.
Clarion CEO Wilcox added, “We are extremely excited about our new partnership with Blackstone and see a great future going forward. The management team has enjoyed an immensely productive and successful relationship with Providence, who have been tremendous partners over the last two years. We have been impressed with Blackstone’s ambition and approach. With their support and strategic leadership, we will be looking to expand our global platform even further, both through consistent organic growth and the successful integration of acquisitions into the portfolio.”
Industry sources indicate that the added backing of Blackstone could prompt a sale of the leading worldwide gaming tradeshow, G2E, from Reed Exhibitions to Clarion, which has been considered in the past. The American Gaming Association owns 60 percent of G2E.
