Transaction

U.S. flagship transaction for rapidly growing global events company

With financial backing from Blackstone, Clarion acquires PennWell to create one of the largest independent B2B media platforms

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Sectors:
  • B2B Information and Events
  • Events and Conferences

JEGI CLARITY has advised PennWell Corporation (“PennWell”), a B2B events, media and marketing services company, on their sale to Clarion Events, a portfolio company of Blackstone.

With 550 employees, family-owned PennWell organizes and manages more than 40 exhibitions and conferences around the world, has 130 B2B media properties, and provides quality content and integrated marketing solutions for the energy, emergency services and industrial technology industries. The buyer, Clarion Events operates over 180 events in 50 countries with primary offices in the UK, US, Brazil, Singapore, UAE and Hong Kong.

This highly strategic transaction brings together two of the industry’s most well-respected names and management teams to create one of the largest independent events companies in the world. PennWell’s collection of market-leading events enhances Clarion’s industry portfolio while Clarion’s global sales and delivery network will extend PennWell’s international reach. Both PennWell and Clarion have a shared legacy of creating innovative events that drive tangible business results for sponsors, their customers and industry constituents.

After 108 years of family ownership, PennWell’s shareholders faced the difficult decision to sell one of the world’s largest privately held events and media companies. Not difficult was the decision to engage JEGI CLARITY, whose sterling reputation gave comfort to PennWell’s ownership and management. And the performance of JEGI CLARITY exceeded our expectations, as they managed a rigorous and intense process with their team of consummate professionals. The day-to-day engagement of JEGI CLARITY’s round-the-clock team guided us throughout; no detail was too small, no stone left unturned, no strategy overlooked, and no critical deadline missed. The end result was what the family and all PennWell stakeholders desired for the next chapter of PennWell – a rewarding outcome shepherded every step of the way by the outstanding JEGI CLARITY team.

Mark Wilmoth, CEO, PennWell

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