Informa, a London-based event producer, has announced it will acquire Penton, a U.S. show producer, for a reported $1.46 billion in cash and $100 million in stock, with the sale expected to be completed during the fourth quarter of 2016. The purchase will add 30 events and 20 digital brands to Informa’s stable, which currently consists of 180 events worldwide.
Penton, which operates primarily in the agriculture, industrial design and manufacturing, transportation, and natural foods industries, was seen as a strategic purchase for Informa in its quest to expand its holdings of U.S. events. In 2014, Informa acquired Hanley Woods Expositions for $375 million, adding trade show giants World of Concrete and International Surfaces Event to its roster of event properties. With the acquisition of Penton, Informa will also gain WasteExpo and Natural Products Expo West/Engredea.
Barrett Gilmer, co-chairman of Penton and managing director of one of its private investment holders, said, “We are incredibly proud of our partnership with Penton and the company’s success under CEO David Kieselstein.” Among that success were a number of acquisitions that nearly doubled the company’s value, Gilmer said, adding, “The entire Penton team played a role in this transformation and we wish them continued success as part of the Informa team.”
