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RAPAPORT... Private equity firm Onex Corporation agreed to purchase Nielsen Expositions from its parent company, Nielsen Holdings N.V., for $950 million in cash consideration. Nielsen Expositions is the parent of JA New York, Special Delivery, the Couture show and National Jeweler, among other trade show and media properties. Onex expects the transaction to close in the second quarter of 2013. Onex Partners III, Onex’ $4.7 billion private equity fund, will make an equity investment of approximately $350 million, $85 million of which is Onex’s share as a limited partner. Nielsen Expositions has approximately 240 employees and operates out of four U.S. offices. In 2012, Nielsen Expositions generated revenue of approximately $183 million, adjusted EBITDA of $97 million and it incurred capital expenditures of $2 million on a stand-alone basis, according to Onex. “This is an exciting development in the history of the Nielsen Expositions business,” said David Loechner, the president of Nielsen Expositions. “Onex’s experience and successful track record in executing similar corporate carve-outs and building those divisions into industry-leading businesses position it as a strong partner. We look forward to working with Onex to execute our strategic plan and to continue to grow the business to better serve the exhibitors and attendees who participate in our events, all the while providing a seamless, business-as-usual transition for our clients and associates.” Kosty Gilis, an Onex managing director, said, “Nielsen Expositions’ strength in the U.S. business-to-business trade show industry is evidenced by its high renewal rates, long-standing exhibitor relationships and the brand strength of the underlying shows. This is a great opportunity to partner with David and his management team to build on the company’s market leadership position through continued expansion of its existing shows as well as select acquisitions.” Nielsen divested of its exposition division to focus on core areas of consumer trends and to show better returns for its shareholders.
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