Blackstone has begun the process of selling Clarion Events, according to information from Reuters. The process would begin after weeks of market turmoil, which hindered the company’s negotiations.
Blackstone acquired Clarion Events, which organizes international trade fairs for electronics, gaming, betting, technology and other sectors. The purchase took place in 2017 for 600 million pounds (US$802 million).
Additionally, it supported the brand during the COVID-19 pandemic, when the events industry came to a sudden halt, impacting the company’s revenue and profits.
Companies show interest in purchasing Clarion Events
The US-based fund issued information memoranda earlier this month, attracting interest from funds including CVC, KKR, PAI Partners and Ardian to buy.
Asian firm Hillhouse Investment is also interested in Clarion, which organizes trade fairs in China through its Global Sources unit.
Clarion could fetch around 12 times earnings before interest, taxes, depreciation and amortization, one source said, giving the company a market value of around 2 billion pounds. Reuters reported last year that Blackstone had begun exploring options for the deal.
Spokespeople for Blackstone, KKR, Hillhouse, CVC, PAI Partners and Ardian declined to comment.
The deal would be one of the largest private equity assets on the market after weeks of volatility triggered by U.S. President Donald Trump‘s tariff policies, which have led to the firm’s biggest decline in global trading in 20 years.
Clarion has been managing its cost base and cash flows and monitoring economic pressures, the company said in a review of the first half of its 2024-2025 fiscal year, adding that cash flows were ahead of budget. However, there was no certainty that a deal would be finalized.
