They have worked on some of the biggest deals the exhibition industry has seen since their launch in 2014 – Blacktone buying Global Sources and Clarion , and acquiring the NEC , Charterhouse buying Comexposium , then Tarsus . In the past six months they

have advised on a string of one-to-ones with CloserStill , Tarsus and Clarion .

The cash , profitability and predictability of exhibitions made 2013 to 2020 a boom time for PE investment , and whilst the market isn ’ t quite back to 2020 levels , there is definite growth and renewed interest in the market .

Partner Jonny Baynes who leads Plural ’ s events practice says : “ M & A was almost on ice between March 2020 and summer last year . It ’ s started to ramp up . It ’ s not

back to 2020 levels but it is off the floor that it was on . The volumes are not quite there . I ’ m not seeing same volume of target availability of things coming to the market yet .

“ It has come back from depths of 2020 and I think we will see a new round of PE interest [ in exhibitions ] because the fundamentals of the model and the attractions .

“ PE interest from the US was on the rise from 2013 , then it had quite a big punch . There is a near term issue of the need to deploy capital

which will accelerate things , there ’ s an awful lot of dry powder .

“ Events as a sector is not trading at 2019 levels yet and that ’ s probably at least a year away globally . In certain pockets it already has recovered . If you ’ re an investor coming in cold to this sector you probably are looking for a little more evidence that there isn ’ t a longer-term impact . There ’ s a great opportunity for investors who want to get ahead of the curve because some assets are undervalued .”

March — 23