UBM plc Acquires Four Tradeshows

UBM plc today announces that it has acquired outright, or majority equity stakes in, the following four tradeshows for a total cash consideration of £19.4m and deferred consideration of up to £4.4m. In 2011 these tradeshows generated aggregate revenues of approximately £8.5m:

–       Malaysian International Furniture Fair (MIFF)
–       China International Exhibition & Symposium on Dental Equipment, Technology & Products (DenTech China)
–       Renewable Energy India Expo
–       Airport Cities Exhibition & Conference (ACE)

MIFF – UBM plc has acquired outright the MIFF exhibition (www.miff.com.my) on behalf of UBM Asia from its private owners. Founded in 1995, MIFF is an export-oriented furniture tradeshow which is held annually in Kuala Lumpur. The exhibition focuses on office furniture, home furniture and wood furniture, alongside fittings to furnishing materials.  The acquisition of MIFF enhances UBM’s strong position in the furniture exhibition market, complementing Furniture China in Shanghai, the Index fairs in India and Interiors in the UK.  Over 400 exhibitors attended the 2011 MIFF event, occupying over 30,000 net square metres and attracting over 20,000 visitors, more than 40% of whom were from overseas. MIFF’s founder will remain with the business following its acquisition, together with a further 16 employees. In 2011 the event generated revenues of approximately RM 20m (£4.1m). The business’s gross assets as at 30 November 2011 were £5.4m.

DenTech China – UBM plc has signed an agreement to acquire a 70% equity stake in Shanghai UBM ShowStar Exhibition Co. Ltd., a newly formed joint venture which owns DenTech China, China’s leading dental industry exhibition, from its private owners.  The fifteenth edition of Dentech (www.dentech.com.cn) was held in October 2011 in Shanghai.  The event attracted over 500 exhibitors, who occupied approximately 12,000 net square metres.  The event drew 65,000 visitors, primarily dental professionals, approximately 10% of whom came from overseas.  A symposium was held alongside the exhibition, attracting over 2,600 delegates.  Based in Shanghai, the business employs five staff. In 2011 the business generated revenues of approximately £2.3m. The business’s gross assets as at 31 August 2011 were £2.3m.  The transaction is subject to regulatory approval and is expected to close within the next month.

Renewable Energy India – UBM plc has signed an agreement to acquire the Renewable Energy India exhibition (www.renewableenergyindiaexpo.com) – India’s leading event in this sector – from the Exhibitions India Group on behalf of UBM Asia. Launched in 2006, Renewable Energy India is an annual exhibition which focuses on non-depleting and environmentally-friendly renewable energy sources such as solar (65% of exhibitors), wind (30% of exhibitors), biomass, hydro, co-generation and geothermal. The 2011 show was held in August in New Delhi, attracting 527 exhibitors from 33 countries and occupying over 10,000 net square metres, with over 14,000 trade visitors and conference delegates. UBM stages similar events in Bangkok and Kuala Lumpur: Renewable Energy Asia is held in co-operation with the Ministry of Energy of Thailand, attracting visitors from across the ASEAN region; the Green Energy exhibition in Kuala Lumpur is hosted by Tenaga Nasional, the largest power company in South East Asia. Renewable Energy India’s founder will remain with the business as a consultant for a period of three years, together with four employees based in New Delhi. In 2011 Renewable Energy India generated revenues of approximately £1.4m. As at 12 December 2011 the business’s gross assets of the acquired business were £0.1m.

Airport Cities Expo – UBM plc has acquired Insight Media Limited, which owns the Airport Cities World Exhibition & Conference (http://www.globalairportcities.com/events/airport-cities-2012-april-25-27/about-airport-cities-2012), from its private owners on behalf of UBM Aviation.  UBM acquired 25% of Insight Media Limited in August 2010 as part of its acquisition of the Route Development Group. This transaction brings the remaining 75% of the company’s equity into UBM ownership. ACE is a peripatetic annual event which focuses on airport commercial activities and land use, the development of Airport Cities and the associated urban planning issues. The 2011 event was held in Memphis, TN and attracted over 600 delegates, 50 exhibitors and 32 sponsors.  The 2012 event will take place in Denver on 25-27 April. The event’s Managing Director and team of four staff will join UBM Aviation as employees. In 2011 the event generated revenues of approximately £0.7m.  As at 31 August 2011 the gross assets of the acquired business were £0.1m.

>> source UBM website <<