Emerald Expositions Files for Initial Public Offering

March 31, 2017

Just two months after Emerald Expositions was rumoured to be going on the sales block for an estimated $2 billion, the company switched gears and has filed with the SEC to raise an estimated $250 million in an initial public offering, according to a regulatory filing today.  

The San Juan Capistrano (Calif.)-based company generated $323.7 million of revenue, $22.2 million of net income, $63.6 million of adjusted net income and $89.6 million of free cash flow in 2016.

Emerald President and CEO David Loechner declined to comment at this time.

According to news reports, Emerald said all of its trade show franchises are profitable and that its line of business offers diversification in a highly fragmented industry with "significant opportunities" for mergers and acquisitions.

Main underwriters are B. of A. Merrill Lynch, Barclays, and Goldman Sachs. The company's stock is expected to trade on the New York Stock Exchange under the symbol EEX.

Private equity firm Onex bought Nielsen Expositions, which was renamed Emerald Expositions, in June 2013 for $950 million.

Since then, Emerald rapidly expanded its portfolio with buys such as George Little Management for $335 million that included Surf Expo and the National Stationary Show, as well as other shows, in December 2013.

More recently, Emerald has been on an acquisition spree, buying several shows in the past few months such as CEDIA Expo, InterDrone, American Craft Retailers Expo, RFID Journal LIVE! Event and National Pavement Expo, to name a few.

Emerald currently operates more than 50 trade shows, including 30 of the top 250 trade shows in the country as ranked by TSNN, as well as numerous other events.

The company’s events connect more than 500,000 global attendees and exhibitors and occupy 6.5-plus million net square feet of exhibition space. 

Add new comment

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.