Blackstone Prepares £2 Billion Sale of Clarion Events
According to Reuters, Blackstone has initiated the sale process for Clarion Events, the company behind ICE and iGBLive!, with early estimates placing the London-based events organiser’s value at around £2 billion. The potential deal comes amid improving market sentiment and renewed private equity interest following a period of economic turbulence.
Blackstone Tests Market with Clarion Events Sale
Blackstone has started the sale process for Clarion Events, the company behind ICE and iGBLive!. It is offering the business to major investors, including CVC, KKR, PAI Partners, Ardian, and Hillhouse Investment. Sources familiar with the deal say Clarion could be valued at around 12 times EBITDA.
Blackstone bought Clarion in 2017 for £600 million. Since then, it has supported the company through a volatile period for the global events industry. The COVID-19 pandemic forced cancellations and halted in-person exhibitions. Clarion, like many others, took a major hit. However, the company has now recovered, boosted by expansion and stronger performance in Asia.
Return to Growth After Pandemic Disruption
Clarion has steadily rebuilt its business following the pandemic, reporting £432.9 million in revenue in the 12 months to January 2024 – up from £257 million the previous year. The rebound has been particularly notable in markets like China and Hong Kong, supported by the 2018 acquisition of Global Sources.
Now operating 125 events and media brands across various industries – including gaming, defence, energy, and consumer electronics – Clarion claims to be the largest privately owned event and exhibition organiser in the world. With a global workforce of around 2,000 and operations in 12 countries, the company has become a key asset in Blackstone’s portfolio.
Investor Interest Amid Easing Market Uncertainty
The timing of the sale follows a temporary easing of U.S.-China trade tensions and an uptick in deal activity. The IPO and M&A markets have seen renewed life in early 2025 after a prolonged downturn triggered by President Trump’s tariff policies. Blackstone is reportedly seeking to capitalise on this improved climate by testing investor appetite.
Industry analysts view the Clarion deal as a potential bellwether for large-scale private equity transactions in the coming quarters. Interest from Hillhouse Investment is said to be partly driven by Clarion’s exposure in Asia through its Global Sources brand.
If completed, the sale would mark one of the largest transactions in the events industry post-pandemic – setting the stage for further consolidation and investment in live, in-person experiences.
Source: Reuters