ICE organisers Clarion sold for £200m
Asset management firm Providence Equity beats off rival bids and plots expansion of event organiser
Clarion Events, organisers of egaming trade shows and conferences such as ICE and EiG, has been sold to asset management firm Providence Equity in a deal reportedly worth around £200m.
Events publication Exhibition News first revealed the deal earlier this week and reported Clarion staff were informed of the news last week.
Providence is expected to invest heavily in the conference producer as part of a strategy to expand its presence, with further acquisitions also said to be under consideration.
Providence specialises in media and communications investments and is reported to have fended off interest from a string of other interested parties to finalise the deal.
US-based asset fund the Carlyle Group launched the strongest rival bid, however Charterhouse Capital Partners and rival events producer Penton Media also launched bids for the company.
Clarion’s largest event, the ICE gaming show in London, kicks off at the EXCEL centre in just under three weeks’ time, while its portfolio of gaming conference also includes EiG, GIGSE and The Slot Summit.