UBM Buys Allworld Exhibitions for $485 Million
December 13, 2016
U.K.-based UBM bought Allworld Exhibitions, a privately-owned Asian exhibitions business operating 51 tradeshows in 11 countries and across nine industry sectors, for $485 million.
Allworld generated revenues of $97.2 million and EBITDA of $37.6 million (38.7 percent margin) during the 12 months ended 30 June 2016.
“The acquisition of Allworld is wholly in line with our Events First strategy and represents an exceptional opportunity to accelerate growth by investing in a high-quality events business,” said Tim Cobbold, UMB’s CEO.
He added, “In so doing, we cement our position as the leading events business in Asia and achieve the No. 1 position in the fast-growing ASEAN region. We see excellent opportunities to accelerate organic growth in the business.”
Allworld is a pure-play portfolio of large, high-margin events in which 90 percent of revenues are generated from 28 major events. The company also has a consistent record of high organic growth, with 7.3 percent revenue CAGR during the last 10 years.
According to UBM officials, Allworld provides UBM with entry into the Middle East and fits well with UBM’s existing portfolio – particularly in Food & Hospitality, Packaging and Manufacturing – with entry into Oil & Gas.
In addition, there is significant opportunity to accelerate growth through operational initiatives and application of Events First best practices, they added.
Overall, the acquisition, is attractive financially because it is expected to enhance earnings in 2017, have return on investment to exceed cost of capital from 2019 and be fully deb- funded with new bridge facility
“Allworld’s management and employees bring tremendous experience and expertise to UBM, and I look forward to working with them to realise the growth potential of the combined business,” Cobbold said.
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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