Providence Equity acquires Clarion Events for £200 million

International corporate events and trade show organisers Clarion Events has been purchased by private equity firm Providence Equity for a reported £200 million.

The deal will see Providence Equity, who specialise in corporate investment of media, communications and research industries take over Clarion Events + 200 corporate trade shows, which include gambling specific events ICE, EIG and GIGse.

UK exhibitor news sources have reported that Providence beat off competition from US asset management firm Carlyle Group, who placed a strong rival bid for the company.

Clarion Events who specialise in gambling, sciences, energy and telecoms amongst their tradeshow portfolio are led by Executive Chairman Simon Kimble who took over the business in 2004 buying the company from Earls Court & Olympia Group.

Clarion Events has grown to become one of the leading corporate event companies in the world, with additional business channels in publishing and digital information services.