The operator of popular trade exhibitions including The London Vet Show and Data Centre World is drawing interest from private equity firms amid talks about a takeover worth more than £1bn.
MEZIESBLOG understands that CloserStill Media, which is owned by the buyout shop Providence Equity Partners, has attracted bids from suitors including Apax Partners and BC Partners.
Both Apax and BC are understood to have progressed to the second round of an auction likely to fetch between £1.2bn and £1.3bn.
CloserStill Media is one of Britain’s biggest trade show operators, with the sector having staged a robust recovery from the nadir of the pandemic, when much of the industry needed to raise capital to survive.
Bankers at Jefferies and The Raine Group are leading the sale process, which is expected to see a preferred bidder picked by the end of the spring.
The company operates more than 200 specialist events, in sectors including healthcare and technology.
Last September, it acquired Billington Cybersecurity, an operator of shows in the US, while in 2024 it bought a majority stake in Elite Exhibitions, organiser of the annual Cruise Ship Interiors Design Expo shows (CSI) in London and Miami.
Alongside Searchlight, another private equity firm, Providence also owns Hyve, another major events organiser.
Other players in the sector include Clarion, which is owned by Blackstone and which conducted an aborted sale process last year.
Alongside Apax Partners and BC Partners, a number of other bidders are said to remain in contention to buy CloserStill Media.
Apax and BC declined to comment, while Providence has been contacted for comment.
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