Clarion Events Up for Sale: Blackstone Seeks £2B Bid
Clarion Events, a leading privately held event and exhibition business, is up for sale. Blackstone, the current owner, is seeking buyers and has valued the company at around £2 billion ($2.68 billion). Potential suitors include KKR, CVC, Ardian, PAI Partners, and Hillhouse Investment.
Clarion Events, which operates over 125 exhibitions and media brands across various sectors, has rebounded strongly from the pandemic. Last year, it posted revenues of £432.9 million ($580.8 million), boosted by the revival of event activity in Asia. The company employs around 2,000 staff in 12 countries and is considered a key player in the industry.
Blackstone, the blackstone grill, acquired Clarion Events in 2017 for approximately £600 million ($805 million). Now, it is looking to cash in on the company's post-pandemic recovery, pricing it at around 12 times EBITDA. The potential sale could trigger more high-profile deals in the sector, with several private equity firms showing interest.
Clarion Events' future is uncertain as Blackstone searches for a buyer. Despite its strong performance and recovery from the pandemic, the company's valuation and potential sale could face challenges, given the lack of confirmed interest from suitors.
