Emerald Expositions Events Acquires Connecting Point Marketing Group
November 30, 2017
Emerald Expositions Events acquired Connecting Point Marketing Group from lower-middle market private equity firm Corridor Capital, mezzanine investor Aldine Capital Partners and management.
Founded by Nancy Splaine and Kim Haulk in 2004 in Rye, N.H., CPMG organizes and hosts nine senior executive level business-intensive trade events focused on innovation for the hospitality, restaurant, healthcare, grocery and retail industries.
These four-day events are curated, invitation-only forums that bring together leaders in each vertical market. Events include RestaurantPoint East and West, HotelPoint, HealthPoint and StorePoint, among others.
“We have been innovators in the hosted trade event business, benefitting from growth and change in the industries we serve, and I believe that our events will continue to be an important forum for business to be done in the future,” Splaine said.
She added, “At this point in CPMG’s evolution, we are excited to leverage the experience and market relationships of the various Emerald brand teams, take advantage of Emerald’s resources and infrastructure and bring new capabilities to the Emerald portfolio.”
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 favorable cash characteristics and good visibility into future performance, according to Emerald officials.
The CPMG team of 19 employees, all based in Rye, has more than 165 years of combined experience working in the events industry.
The entire team will join Emerald, and Splaine, senior vice president/general manager of CPMG, will report to David Loechner, CEO and president of Emerald Expositions.
“Nancy, Kim and the entire CPMG team have built a great business with an impressive track record of organic growth,” Loechner said.
He added, “We are very 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.”
Corridor CEO, Craig Enenstein, said, “Corridor Capital has been honored to work with the Connecting Point Marketing Group team to increase its pace of new event implementation, build out more scalable infrastructure and optimize the use of its robust data analytics capabilities. CPMG is a true thought leader in the hosted trade event business offering an exceptional level of service and value to its partners. We believe that the scale and scope of Emerald’s operations and their commitment to preserving the culture of CPMG will only help them improve this offering and reach a broader audience.”
JEGI, an independent investment bank for the global media, information, marketing, software and tech-enabled services sectors, was the exclusive financial advisor to CPMG in this transaction. Terms of the transaction were not disclosed.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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