UBM acquires Advanstar

UBM acquires Advanstar

UBM acquires Advanstar

British media and marketing company UBM agreed to acquire Advanstar, trade show organizer and marketer based in California, in cash deal for 972 million.

UBM will buy Advanstar from hedge fund Anchorage Capital Group and the privaty equity firms Veronis Suhler Stevenson and Ares Management.

“In addition to being financially attractive, it strengthens UBM’s core events business while balancing and complementing UBM’s strong events portfolio in emerging markets,” Tim Cobbold, CEO of UBM, said in a news release.

UBM is planning to fund the acquisition by selling additional shares worth £563 Million ($914 Million).

CEO of Advanstar Joe Loggia has agreed to stay on for intermediary period after the sale.

Advanstar with main focus on fashion, life sceinces, product licensing sectors and power sports like motorcycle racing.

UBM provides marketing services, organizes trade shows and distributes news releases for companeis.

UBM organizes one of the world’s largest fashion and apparel trade shows Magic Trade Show in Las Vegas.

UBM advisors are JPMorgan Chase and the law firm Morgan, Lewis & Bockius. Advanstar was advised by  Goldman Sachs and Moelis &  Company, and by the law firms Paul, Weiss, Rifkind, Wharton & Garrison, and Slaughter and May.

The transaction is subject to regulatory and shareholder approval. It is expected to close by the end of the year.

Mr. Stakebay says:

This deal makes the largest events organizer and provider of fashion industry events in the United States and boost UBM revenue by £ 135 Million.

 

CEO of UBM………………….TIM COBBOLD …………….(2014-present)…………….£1 630 000 (2013)

CEO of ADVANSTAR ………JOSEPH LOGGIA………….(2004-present)

UBM

ADVANSTAR

Revenue

  £ 793.9 Million (2013)

-

Operating income

  £130.9 Million (2013)

-

Profit

  £ 117 Million (2013)

-

Total assets

£ 1.267 Billion (2013)

-

Total Equity

£ 242.4 Million (2013)

-

Employees

5000 (2013)

-

You Might Also Like

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>