Steve Monnington of Mayfield Merger Strategies sums up this month ’ s M & A and says there have been significant media transactions
There have been a number of significant media transactions this month .
Euromoney Institutional Investor , owner of the Euromoney brand , has agreed to sell the entire business to two PE firms - Epiris and Astorg . The offer values the business at £ 1.7bn , a multiple of 20 times 2022 EBITDA . The joint bid will result in the business being split in two with Astorg taking the Price Reporting Agency business and Epiris taking everything else including the Euromoney brand . Although the events side of the Euromoney business is tiny , the deal may focus Epiris ’ mind on some follow-on deals which could involve exhibition / conference organisers with related brands .
One in One out Informa has made some sizeable changes to its portfolio ( although exhibitions remain untouched ). In comes US business publisher Industry Dive acquired from Falfuriass Capital for £ 323m and out goes Lloyds List Intelligence ( or 80 % of it ) sold to Montagu Private Equity for £ 308m .
Industry Dive was launched in 2012 and has developed into daily and weekly publications across 27 brands including BioPharma , Banking , Cyber Security and Supply Chain with 13 million readers . Informa will create added value in two main ways – the creation of in-person and online events for the existing brands and the creation of new Industry Dive brands from Informa ’ s existing portfolio . The acquisition will be run as a standalone business reporting into the Informa Tech Division .
The sale of 80 % of Lloyds List Intelligence sees Informa dispose of the one its heritage businesses and is the second sale to Montagu in a matter of weeks following the disposal of Fund Flow Intelligence for £ 162m . Lloyd ’ s List Intelligence is a global provider of maritime data , insight and intelligence to the shipping and transport industries and it was the merger of this business with International Business Communications that created Informa in 1998 .
Germany The Italian Exhibition Group ( IEG ) is acquiring 50 % of Deutsche Messe ’ s companies in Mexico , Canada , and the USA . Deutsche Messe has eight shows in Mexico of which two - Mexico Active & Sports for the fitness sector
and Ecomondo Mexico for the green technologies sector , are already run in partnership with IEG , being two of IEG ’ s core sectors . The other six shows that will join the JV include Solar Power , Industrial Transformation , Agrotech and World Seafood . The Canadian business includes ETC Electricity Transformation and the USA business includes a geoclone of the broad-based industrial event Hannover Messe show .
IEG has already been active in 2022 acquiring the Brasil Trading Fitness Fair as well as 75 % of V Group , organiser of the Myplant & Garden exhibition for the horticultural-floricultural and gardening sector . This latest joint
08 — September