Toronto, June 17, 2013 – Onex Corporation (“Onex”) (TSX: OCX) today announced that it has completed the acquisition of Nielsen Expositions from its parent, an affiliate of Nielsen Holdings N.V. (NYSE: NLSN) (“Nielsen”), for $950 million in cash consideration. Nielsen Expositions is a leading operator of large, business-to-business tradeshows in the United States.
Onex Partners III made an equity investment of approximately $350 million, of which Onex’ share was $85 million as a Limited Partner in the Fund. Concurrent with the closing of the acquisition, the company was renamed Emerald Expositions, Inc.
David Loechner, Chief Executive Officer of Emerald Expositions, said, “Onex’ acquisition of our business has given us a partner that will help Emerald pursue new growth opportunities while continuing to deliver exceptional value to our exhibitors and attendees.”
“We’re excited to work with David and his management team to grow the company through both continued expansion of its existing shows and add-on acquisition opportunities,” said Kosty Gilis, an Onex Managing Director.
With offices in Toronto, New York and London, Onex is one of the oldest and most successful private equity firms. Onex acquires and builds high-quality businesses in partnership with talented management teams. The Company has approximately $16 billion of assets under management, including $5 billion of proprietary capital, in private equity, credit securities and real estate. Onex invests its proprietary capital directly and as a substantial limited partner in its Funds.
Onex’ businesses have assets of $44 billion, generate annual revenues of $37 billion and employ approximately 243,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol OCX. For more information on Onex, visit its website at www.onex.com.