Press release from Marketwire
Onex Completes Acquisition of Nielsen Expositions
Monday, June 17, 2013
Onex Completes Acquisition of Nielsen Expositions10:46 EDT Monday, June 17, 2013
TORONTO, ONTARIO--(Marketwired - June 17, 2013) -
All amounts in U.S. dollars unless otherwise stated
Onex Corporation ("Onex") (TSX:OCX) today announced that it has completed the acquisition of Nielsen Expositions from its parent, an affiliate of Nielsen Holdings N.V. (NYSE: NLSN) ("Nielsen"), for $950 million in cash consideration. Nielsen Expositions is a leading operator of large, business-to-business tradeshows in the United States.
Onex Partners III made an equity investment of approximately $350 million, of which Onex' share was $85 million as a Limited Partner in the Fund. Concurrent with the closing of the acquisition, the company was renamed Emerald Expositions, Inc.
David Loechner, Chief Executive Officer of Emerald Expositions, said, "Onex' acquisition of our business has given us a partner that will help Emerald pursue new growth opportunities while continuing to deliver exceptional value to our exhibitors and attendees."
"We're excited to work with David and his management team to grow the company through both continued expansion of its existing shows and add-on acquisition opportunities," said Kosty Gilis, an Onex Managing Director.
With offices in Toronto, New York and London, Onex is one of the oldest and most successful private equity firms. Onex acquires and builds high-quality businesses in partnership with talented management teams. The Company has approximately $16 billion of assets under management, including $5 billion of proprietary capital, in private equity, credit securities and real estate. Onex invests its proprietary capital directly and as a substantial limited partner in its Funds.
Onex' businesses have assets of $44 billion, generate annual revenues of $37 billion and employ approximately 243,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol OCX. For more information on Onex, visit its website at www.onex.com. The Company's security filings can also be accessed at www.sedar.com.
About Emerald Expositions
Emerald Expositions is a leading operator of large business-to-business tradeshows in the United States, producing over 65 tradeshows and conference events per year connecting over 335,000 buyers and sellers across nine diversified end-markets, including general merchandise, sports, hospitality and retail design, jewelry, photography, decorated apparel, building, healthcare and military. Emerald Expositions is headquartered in San Juan Capistrano, California. The company's shows are typically the most prominent and important for exhibitors and attendees within their various industries. To learn more about Emerald Expositions, please visit www.emeraldexpositions.com.
Nielsen Holdings N.V. (NYSE: NLSN) is a global information and measurement company with leading market positions in marketing and consumer information, television and other media measurement, online intelligence and mobile measurement. Nielsen has a presence in approximately 100 countries, with headquarters in New York, USA, and Diemen, the Netherlands. For more information, visit www.nielsen.com.
This news release may contain forward-looking statements that are based on management's current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.
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