Blackstone is exploring the possibility of selling Clarion Events, a global event organizer known for ICE and iGB L!VE expos. The potential deal could be worth up to £2 billion ($2.7 billion), according to sources familiar with the discussions.
Good to know
- Blackstone acquired Clarion in 2017 for £600 million ($809.79 million).
- Clarion’s revenue rose to £432.9 million ($584.26 million) by January 2024.
- Clarion oversees more than 125 global events, including gaming, defense, and design.
Clarion Events has bounced back after the pandemic, with strong revenue growth and a broad portfolio of expos. The company’s recent moves — including the relocation of ICE to Barcelona and iGB L!VE’s shift to London — signal a fresh strategy aimed at expanding audience reach and exhibitor participation.
The gaming division has played a central role in this recovery. The ICE event’s new venue in Barcelona offers more space, while iGB L!VE aims to grow to 30,000 visitors and 550 exhibitors by 2028.
Private equity firms start reviewing the deal
Blackstone has started sharing documents with potential buyers. Hillhouse Investment, which operates Global Sources events in China, is said to have shown early interest. Other private equity groups like KKR, CVC, Ardian, and PAI Partners are reportedly evaluating the opportunity as well.
The estimated deal value is based on around 12 times Clarion’s EBITDA, though the transaction is not guaranteed to happen. If it does, it would be one of the biggest private equity exits in recent months.
Improved performance fuels potential sale
Clarion’s financial results, driven by the return of events in Asia and tighter cost control, have strengthened its market position. Revenue jumped from £257 million ($346.86 million) to £432.9 million ($584.26 million) in just one year, mainly due to renewed activity in China and Hong Kong.
Investor confidence also seems to be recovering after the easing of U.S.-China trade tensions. Blackstone, which previously paused any move to sell, now appears ready to proceed.
Alongside gaming, Clarion organizes events in industries like home design, consumer electronics, and defense. It also runs the London International Horse Show.
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