Connecting Point Marketing Group (“CPMG”), an organizer of nine senior executive level hosted buyer events focused on innovation within the hospitality, restaurant, healthcare, grocery and retail industries and a portfolio company of Corridor Capital, an LA-based private equity firm, has been acquired by Emerald Expositions Events Inc. (NYSE: EEX) (“Emerald”).
JEGI CLARITY (www.jegiclarity.com), the leading independent investment bank for the global media, information, marketing, software and tech-enabled services sectors, headquartered in New York, NY, was the exclusive financial advisor to CPMG in this transaction. The financial terms of the transaction were not disclosed.
Founded by Nancy Splaine and Kim Haulk in 2004 in Rye, New Hampshire, CPMG’s four-day events are highly-curated, invitation-only forums that bring together leaders in each vertical market, with no exhibit component. The emphasis and differentiation of CPMG’s events are the intimacy and personal interaction created by the unique format and exceptional execution, resulting in demonstrable ROI for all participants. Under this “hosted-buyer” model, CPMG curates the buyer attendees and covers the cost of travel, hotel and meals for all attending buyers, and then generates revenue from the sale of supplier participation packages and sponsorship opportunities. CPMG’s proprietary technologies customize the event experience for both buyers and suppliers, and create significant internal efficiencies, a well-conceived user experience and broad data insights.
CPMG has demonstrated strong organic growth since its inception and, similarly to Emerald, benefits from very favorable cash characteristics and good visibility into future performance.
The CPMG team of 19 employees, all based in Rye, New Hampshire, has more than 165 years of combined experience working in the events industry. The entire team will join Emerald, and Nancy Splaine, Senior Vice President/General Manager of CPMG will report to David Loechner, Chief Executive Officer and President of Emerald Expositions.
We have been innovators in the hosted trade event business, benefitting from growth and change in the industries we serve, and I expect our events to continue to be an important forum for business to be done in the future,” said Splaine. “At this point in CPMG’s evolution, we are excited to leverage the experience and market relationships of the various Emerald brand teams, and Emerald’s resources and infrastructure, to continue to drive our future success and growth.
Nancy, Kim and the entire CPMG team have built a great business with an impressive track record of organic growth,” said Loechner. “I am pleased to add CPMG’s best in class capabilities, industry relationships and technologies to the Emerald portfolio, to complement our existing expertise in trade shows, conferences and other face-to-face events.
We had multiple potential buyers wish to enter into exclusive discussions. With the help of the JEGI CLARITY team, we were able to quickly make an efficient market while treating each of the potential buyers with respect. Corridor Capital, Connecting Point management and JEGI CLARITY worked closely together during a rather expedited, yet high integrity process. We believe JEGI CLARITY’s history and credibility with the field of potential acquirers was among the driving factors which ultimately resulted in the success of the transaction.Craig Enenstein, CEO, Corridor Capital