Blackstone is reportedly testing the water over a potential sale of Clarion Events, including ICE and its other gaming shows as well as those in other sectors.
Reuters claims that Asian private equity firm Hillhouse Investment has shown initial interest in a potential deal.
The source says Clarion could sell for up to £2bn, around 12 times earnings before interest, tax, depreciation and amortisation. Blackstone acquired Clarion in 2017 for £600m.
Citing four people in touch with the developments, Reuters added that investors such as CVC, KKR, PAI Partners and Ardian could be interested.
Blackstone reportedly wanted to wait for the economic uncertainty caused by US president Donald Trump's wide-ranging tariffs to settle down before starting to properly look at a potential sale of Clarion Events. The US and China have now agreed a new deal.
Hillhouse Investment's Global Sources business gives the company an events outlet in China.
On the gaming front, Clarion remains in the early stages of what it hopes is a new phase of growth for its flagship events, having moved ICE from London, UK, to Barcelona, Spain, and iGB L!VE from Amsterdam, the Netherlands, to London.
ICE’s move to Barcelona’s Fira Gran Via this year offered the expo an immediate uplift in floor space compared to London’s ExCeL, taking the floor space to 120,000sq.ft. Fira Gran Via has 240,000sq.m of total space.
Meanwhile, Clarion is aiming for iGB L!VE to attract 30,000 visitors and 550 exhibitors by 2028 following its move to ExCeL from Amsterdam’s RAI.
Clarion Events’ portfolio of over 125 shows also includes expos in the home and design, defence and security and consumer electronics sectors.
