Hanley Wood Exhibitions, formerly part of the diversified enterprise Hanley Wood, was sold to the UK- based publishing and events company Informa PLC for $375 million.
This sale is subject to customary regulatory review and is expected to close by the end of 2014. Upon the closing of the transaction, the Exhibitions business will be rebranded Informa Exhibitions U.S. and will include 17 tradeshows, such as World of Concrete and The International Surface Event.
The business will maintain its headquarters in Irving, Texas. Rick McConnell will continue his role as president under Informa Exhibitions U.S.
“Since 2000, Hanley Wood Exhibitions has led the industry as a best-in-class producer of tremendously vital and successful events,” said Peter Goldstone, CEO, Hanley Wood. “Informa recognized the power and value of the tradeshow business we’ve built over the years. Informa has an exciting, long-term strategic vision for the Exhibitions business and how it fits within its international operations and its existing portfolio of construction and real estate events. It will be a great home for its customers and employees.”
Goldstone added, “Part of the reason that Informa was interested in this transaction was the excellence of the management team and employees, and I personally want to thank all the outstanding employees of Hanley Wood Exhibitions for their dedication and hard work for so many years. I have cherished working with them during these past few years, and I offer my heartfelt appreciation and best wishes for the future.”
“We are very excited about the addition of such an outstanding tradeshow business,” said Stephen A. Carter, group chief executive, Informa. “This is a terrific portfolio of leading construction exhibition brands that will become a key component of our Global Exhibitions Division. In combination with other recent acquisitions, we have significantly strengthened our presence in the U.S., demonstrating our commitment to the sector and the region.”
Hanley Wood and Informa PLC will enter into a long-term partnership agreement under which Hanley Wood will continue to provide editorial and marketing support for Exhibitions events.
“This partnership agreement will allow Hanley Wood Media to maintain its role as the official media and information provider to the various events we have supported for many years,” said Goldstone. “At the same time, our shared customers, business partners and attendees will benefit from the continued collaboration between the two companies.”
Hanley Wood is an information, media, event, and strategic marketing services company. It has kept 30 smaller tradeshows and events included in its portfolio.
