AC Business Media Sells B2B Portfolio; LDC Acquires FBIC Events
September 4, 2018
Just before the long holiday weekend in the U.S., two companies made portfolio sales that covered several conferences, a trade show and digital products.
AC Business Media sold its business-to-business portfolio that was comprised mainly of publications and one trade show to Florida-based private equity firm Boyne Capital.
The assets included in the sale are the following 12 publications, the DHI ConNextions trade show for the non-residential door and hardware industry, one digital marketing services brand, several related websites and digital products.
“This acquisition for Boyne Capital is a great platform in the heavy construction, commercial building and marketing sectors within the B2B industry. This platform will set the stage for future growth with acquisitions in these industries and other new sectors,” said Nick Curci, president of Corporate Solutions.
He added, “Boyne Capital was the winning bidder after careful consideration of several other offers by other strategic and financial buyers. AC Business Media did an exceptional job growing this business over the past four years both organically and with strategic acquisitions.”
Corporate Solutions represented Cygnus Business Media in the sale of the heavy construction properties to AC Business Media four years ago when AC Business Media was formed.
Corporate Solutions represented the sellers of the DHI ConNextions trade show and DMN to AC Business Media also one year ago.
Another pre-Labor Day sale was U.K.-based mid-market private equity investor LDC backed the management buyout of global events company FC Business Intelligence (FCBI). The value of the transaction was undisclosed.
FCBI delivers conference and exhibition events with a focus on providing thought leadership in a diverse range of sectors that are facing both challenges and opportunities from technological and strategic innovation including the energy, insurance, pharmaceuticals transportation and travel sectors. Its offering is designed to help senior business professionals stay at the forefront of change through insight sharing and networking with peers.
The investment will enable FCBI to target further organic growth as it plans to increase the scale of its events and expand into new markets, including Asia.
The business also will look to make a number of acquisitions both at home and overseas.
With 130 employees based at its head office in Shoreditch, FCBI operates globally with 65 percent of the company’s annual turnover of £30m generated in the U.S., 20 percent in continental Europe and 10 percent in the UK.
LDC is backing FCBI’s existing management team, led by CEO Piers Latimer. The investment marks an exit for its original founders.
Latimer said: “We have established a worldwide reputation for developing high-quality strategic events that deliver the insights business leaders need to direct their companies and shape their markets. With demand for our services only set to increase, we’re in a great position to accelerate growth. Bringing on board an experienced and well-connected investment partner in LDC felt right at this juncture and we’re excited to be moving forward with their support”.
David Andrews, investment director at LDC in London, added: “Piers and his management team have overseen a remarkable period of growth for FCBI thanks to their focus on content-rich, delegate-led events that deliver real value to more than 9,000 attendees and 1,400 sponsors and exhibitors each year. The opportunity now is for the management team to strengthen and extend this growth and we’re looking forward to supporting them on this journey.”
Banking facilities were provided by Muzinich & Co. Limited and HSBC. LDC was advised by Houlihan Lokey, Plural Strategy Group, Eversheds Sutherland and BDO.
FCBI was advised by JEGI | CLARITY and CMS.
Partner Voices
One of the most iconic names on the Las Vegas Strip just got an upgrade. Mandalay Bay has everything that your business needs from a refreshed convention space designed to inspire productivity and creativity, to an impressive selection of world-class restaurants and amenities. If you're looking for a venue that's both inviting and innovative, you have to be here.
New Wave Experiences
Mandalay Bay continues to invest in a new wave of enhancements both in the convention space and within the resort as a whole. New restaurant openings including Orla by Michael Mina, drawing inspiration from the award-winning chef’s childhood in Egypt and with flavors and décor inspired by the spices found in markets common to coastal Mediterranean towns, as well as Caramá by Wolfgang Puck, bringing the essence of Italy and spirit of Wolfgang into one concept, are recent additions. The Four Seasons Hotel Las Vegas also experienced a recent remodel of all 424 rooms. Swingers, a high-end, adults-only golf and entertainment concept will debut in Fall 2024.
Enhanced Technology
Creating a truly effective conference venue requires careful thought into what a business needs: the right technology, capacity, and inspiration to bring ideas to the next level. As part of the resort’s refresh, Mandalay Bay implemented state-of-the-art technology upgrades, installing cutting-edge Cat6A Ethernet cabling throughout the convention center. This advancement doubles the frequency of data transmission, enabling lightning-fast speeds up to 9400% faster. The convention center now boasts 11 dynamic digital walls, spanning up to 24' x 13', strategically positioned for brand placements, sponsorships and targeted event messaging. Additionally, attendees can benefit from 20 double-sided 55" mobile flexible display units, facilitating effortless navigation to meeting rooms and events. RFID locks were installed on all meeting room doors, and over 200 motion detection cameras have been placed throughout the space.
Refreshing New Design & Fine Art
The newly remodeled convention space provides a bright and vibrant atmosphere that complements Mandalay Bay's tropical-inspired brand. Featuring white-washed walls and ceilings adorned with bold floral patterns in cerulean and coral tones, the space is complemented by warm walnut accent walls. In addition to the redesign of all pre-function spaces, meeting rooms and ballrooms, Mandalay Bay's 1 million square feet of exhibit space has undergone a rejuvenation, including new paint, covered pillars and relocated strobe lights.
Sustainable Spectacles
Mandalay Bay is committed to Focused on What Matters and creating more responsible meetings. Refillable water stations all available around the resort, cutting unnecessary plastic usage from single-use bottles.
The Mandalay Bay campus’ recent upgrades represent a bold step forward in redefining the Las Vegas experience. With a focus on innovation, sustainability, and unparalleled service, Mandalay Bay sets a new standard for excellence in business hospitality. Whether you're seeking cutting-edge conference facilities, world-class dining options, or simply a luxurious retreat, an unparalleled meeting experience awaits.
Add new comment