Cannes organiser Ascential to sell exhibitions arm

Tue, 27 Feb 2018 | DIVISION SALE

Ascential, the company that runs many of the world’s leading festivals, exhibitions and events, has announced that it could sell its live events arm to raise £300 million and allow it to focus on different business areas.

According to a report in the times, the specialist information group – formerly known as Emap – said that was undertaking a strategic review of its exhibitions business which could lead to it being sold.

The division, which generated some £78 million of revenue in 2017, runs home and gift shows in the retail industry, a series of educational tech events, Spring and Autumn fairs and Pure, a fashion trade show.

Any sale of the business unit is likely to include SWIEME, a series of events for the automotive, consumer electronics and energy sectors but will not account for Cannes Lions, the world-famous festival and awards for the creative, entertainment and design industries, or Money 20/20, a platform for events in the fintech payments space soon to launch in China.

Ascential is expected to fetch proceeds of between £250 million and £300 million if the sale goes through which it will use to pursue new acquisitions. After the news came out, the firm’s share price jumped by almost 6 per cent in 24 hours.

The company can trace its history back to 1887 when Sir Richard Winfrey bought the Spalding Guardian, one of many newspapers which consolidated to form the East Midland Allied Press (Emap) in 1947.

In 1996, Emap then sold 65 newspaper titles to Johnston Press and its consumer magazines and radio business to German publisher H Bauer, leaving behind a business-to-business and events group that renamed as Top Right Group in 2012, before rebranding as Ascential three years later.

The firm’s strategic review comes as it celebrated a strong set of annual figures, with operating revenues growing by 6.4 per cent and underlying earnings growing by 3.4 per cent.


Share this article



Latest Businesses for Sale

Extensive Range of Catering Equipment, Furnishings & Wet Stock (Fast Sale)
UK Wide

Viewing: Wednesday 27 February 2019 between 10am and 3pm. Closing From 10am Friday 1 March 2019.

Asking Price: Offers Invited
Turnover: £500k - £1m

Tyre Services
Fakenham, Norfolk, UK Wide

Tyre specialist offering commercial and agricultural tyres. Major Tyres Ltd with Hankook performance tyres. Offers invited.

Asking Price: £299,950
Turnover: £380,000

LEASEHOLD


Tyre Garage
Midhurst, West Sussex, UK Wide

Busy vehicle tyre changing business, which is in a prime trading location in Midhurst, West Sussex. The business was established by our clients in 1984. Only now is the business being offered to the market, due to our clients’ desire for a well-deser...

Asking Price: £399,995
Turnover: £336,000

FREEHOLD



View more businesses for sale

News Search

Latest News

 
21
 
Feb
 

Lakeside hotel enters administration | ADMINISTRATION

A historic but well-preserved hotel located on the banks of ...

 
19
 
Feb
 

Pharmaceutical manufacturer enters administration | ADMINISTRATION

A pharmaceutical manufacturing company based in Bristol has ...

 
16
 
Feb
 

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
15
 
Apr
 

UK events organiser on the market | BUSINESS SALE

FC Business Intelligence, which organises events around the ...

 
06
 
Jan
 

Drapers, Nursing Times and other titles put up for sale | BUSINESS SALE

Fashion industry mag Drapers and nursing profession title Nu...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources