Blackstone starts sale of Clarion Events - Reuters

Blackstone starts sale of Clarion Events - Reuters

Blackstone has initiated the sale of Clarion Events, a private equity asset, with potential interest from several major equity firms. The move comes as market conditions stabilize following weeks of turmoil sparked by U.S. President Donald Trump's tariff policies [1].

Clarion, which organizes international trade shows in sectors such as electronics, gaming, energy, security, and defense, was acquired by Blackstone in 2017 for £600 million ($802 million). The company has been supported by Blackstone through the COVID-19 pandemic, which significantly impacted the events industry [1].

The U.S.-based private equity fund has distributed information memoranda to potential buyers, including CVC, KKR, PAI Partners, Ardian, and Hillhouse Investment. Clarion could be valued around £2 billion, based on a multiple of 12 times its earnings before interest, tax, depreciation, and amortization (EBITDA) [1].

Blackstone has been waiting for clarity on the economic outlook and the impact of Trump's tariffs before launching the sale process. Clarion has been managing its cost base and cash flows, with cash flows outperforming budget expectations [1].

The potential sale of Clarion Events is seen as a test of demand for takeovers following the market turmoil. Recent deals such as Prada's acquisition of Versace and DoorDash's offer for Deliveroo have indicated a pickup in investor sentiment [1].

References:
[1] https://www.lse.co.uk/news/blackstone-launches-clarion-sale-as-markets-stabilise-sources-say-i81vimbdnvckmbx.html