GS Media & Events Buys 8 Consumer Shows; ITE Group Sells Part of Russia Portfolio
September 5, 2018
The trade show industry mergers and acquisitions market does not look to be slowing down any time soon, with another deal being announced today: GS Media and Events bought eight recreational vehicle, Boat & Outdoor Sports Consumer Shows from RJ Promotions for an undisclosed sum and ITE Group proposes to sell off part of its Russia division to Shtab-Expo.
“This acquisition for GS Events expands their reach into several new markets and makes them the dominant producer of RV related consumer shows,” said Nick Curci, president of Corporate Solutions. “GS Events was the natural buyer of these events given their existing broad reach in these markets.
Corporate Solutions of Westport, Conn., was the exclusive advisor to RJ Promotions in arranging, structuring and negotiating this transaction.
The shows include Des Moines Boat & Sport Show; Des Moines RV & Outdoor Show; Topeka Boat & Outdoor Show; Colorado Springs RV & Outdoor Show; Topeka RV & Sports Show; Overland Park RV & Sport Show; El Paso RV & Outdoor Show; and Colorado Springs RV & Travel Expo
GS Media & Events, a division of Good Sam Enterprises, LLC, owns and operates 23 recreation-focused consumer shows throughout North America.
The company currently produces RV & camping shows, boat & marine shows, and powersports & ice fishing shows.
GS Media & Events is a publishing, online, and face-to-face marketing company serving the outdoors enthusiast.
RJ Promotions is a full-service event management company that produces consumer shows in five states in the Midwest corridor of the United States. Their shows are in the following industries: RV, outdoor sports, boat, gun, knife, home, gist, food and pets.
ITE Group also announced today the proposed disposal of ITE Expo, the operating company for 56 of the Group’s Non-Core, regionally-focused, smaller events in Russia, to Shtab-Expo.
These events comprise a significant proportion of the Group’s Non-Core assets in Russia. This disposal is a major step in delivering a key pillar of the Group’s Transformation and Growth (TAG) programme to focus on must-attend International events by actively managing its portfolio, according to company officials.
“The proposed sale is a milestone in delivering a key pillar of our Transformation and Growth Programme – to actively manage our portfolio,” said Mark Shashoua, CEO of ITE Group.
He added, “These regional events had previously been separated into a different business unit from the international Core business and so this disposal will simplify operations significantly. By selling this portfolio of smaller, lower-growth regional Russian events we will be able to focus our time and investment on our internationally-focused Core shows which have a much greater potential to deliver sustainable growth.”
ITE retains 16 designated Core events in Russia, which have international exhibitors and visitors, and these form part of a new legal entity, ITE Expo International LLC.
These Core Events include market-leading brands like MosBuild, WorldFood Moscow, YugAgro and MITT. The proposed disposal will enable management to focus on those Core Events, which have a greater potential to deliver sustainable growth and value for Shareholders.
The 56 regional Non-Core Events in Russia, which are being disposed of, include VacuumTech Expo, Stomatology St Petersburg, UMIDS Krasnodar and Jewellery Salon Krasnodar.
In the financial year ended Sept. 30, 2017, these Non-Core Events in Russia generated revenues of approximately £12.0 million ($15.6 million) and contributed operating profits of approximately £1.3 million ($1.7 million). These Non-Core Events in Russia comprised gross assets of approximately £14.3 million ($18.5 million) as of Sept. 30, 2017.
The Group will receive consideration of RUB 640 million (approximately £8 million or $10.3 million) over the nine years following completion of the Transaction together with additional variable consideration of up to RUB 400 million (approximately £5 million or $6.5 million) based on the Target’s incremental revenue growth during this period.
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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