Blackstone May Sell Clarion Events for £2 Billion
Key Takeaways
US-based investment firm Blackstone is considering the sale of Clarion Events. The potential deal could be worth up to £2 billion (approximately $2.7 billion USD). Clarion is known for international trade shows such as ICE and iGB L!VE, which play a central role in the gambling sector. Since its acquisition in 2017, the company’s revenue has grown significantly. Several private equity firms have already expressed interest.
Background: Who is Clarion Events?
Clarion Events organizes over 125 events globally across a variety of industries. These include gaming, defence, interior design, and consumer electronics. Clarion is especially well-known in the gambling sector for its ICE (International Casino Exhibition) and iGB L!VE trade shows. These events attract thousands of industry professionals and exhibitors each year.
ICE and iGB L!VE in Transition
Following the pandemic, Clarion has adjusted its strategy. ICE has been moved from London to Barcelona. The new location offers more space and better infrastructure. iGB L!VE will now take place in London, with the goal of attracting around 30,000 visitors and 550 exhibitors by 2028. These changes aim to increase the reach and relevance of the events.
Strong Financials as a Basis for Sale
In January 2024, Clarion reported revenue of £432.9 million. This represents an increase of approximately 68% compared to the previous year. The main driver: the return of events in Asia, particularly in China and Hong Kong. At the same time, the company has improved cost control. These developments strengthen Clarion’s market position and make it more attractive to investors.
Blackstone Considering Possible Exit
Blackstone acquired Clarion in 2017 for £600 million. The company is currently valued at 12 times its EBITDA (earnings before interest, taxes, depreciation, and amortization). This suggests a potential sale price of up to £2 billion. While the deal is not yet confirmed, Blackstone has already shared documents with potential buyers.
Interest from the Financial Sector
Potential buyers include several major private equity firms. Among them is Hillhouse Investment from China, which already operates its own events. KKR, CVC, Ardian, and PAI Partners are also exploring the opportunity. If the sale goes through, it would be one of the largest private equity exits in recent months.
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Our Assessment
The possible sale of Clarion Events highlights the strong recovery of the event and gambling sectors post-pandemic. The strategic repositioning of ICE and iGB L!VE especially underscores the importance of the gaming segment for the company. For those interested in the industry, this is a clear sign of how dynamic the market is becoming. Whether the sale happens remains to be seen – but the interest from potential buyers clearly signals the growth potential in this segment.
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