Private Equity Firm Onex Buys Nielsen Expositions for $950 Million
May 5, 2013
Toronto-based private equity firm Onex emerged as the buyer of Nielsen Expositions from Nielsen Holdings N.V. for $950 million in cash consideration.
“This is an exciting development in the history of the Nielsen Expositions business,” said David Loechner, president of Nielsen Expositions.
He added, “Onex’ experience and successful track record in executing similar corporate carve-outs and building those divisions into industry-leading businesses position it as a strong partner. We look forward to working with Onex to execute our strategic plan and to continue to grow the business to better serve the exhibitors and attendees who participate in our events, all the while providing a seamless, business-as-usual transition for our clients and associates.”
San Juan Capistrano, Calif.-based Nielsen Expositions has 65 trade shows and conferences across nine different markets.
Ten of those shows placed on the 2012 TSNN Top 250 Trade Show list, with the largest being ASD Las Vegas – Aug. at 683,846 net square feet.
For the year ended Dec. 31, 2012, Nielsen Expositions generated revenues of approximately $183 million, adjusted EBITDA of $97 million and incurred capital expenditures of $2 million on a stand-alone basis.
“Nielsen Expositions’ strength in the U.S. business-to-business tradeshow industry is evidenced by its high renewal rates, long-standing exhibitor relationships, and the brand strength of the underlying shows,” said Kosty Gillis, an Onex managing director.
Gillis added, “This is a great opportunity to partner with David and his management team to build on the company’s market leadership position through continued expansion of its existing shows as well as select acquisitions.”
Nielsen said the company will be focusing on its Watch and Buy segments.
Brian West, chief financial officer of Nielsen, added, “Divesting the expositions business allows us to focus on these core areas that provide our clients with a comprehensive understanding of consumers while providing more flexibility to return capital to our shareholders over time.”
Onex Partners III, Onex’ $4.7 billion private equity fund, will make an equity investment of approximately $350 million, of which Onex’ share is approximately $85 million as a Limited Partner in the Fund, according to company officials.
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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