Onex Corp. announced June 17 that it had 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 an operator of large, business-to-business trade shows in the United States.
Onex Partners III made an equity investment of approximately $350 million, of which Onex’s share was $85 million as a limited partner in the fund. Concurrent with the closing of the acquisition, the company was renamed Emerald Expositions.
David Loechner, CEO of Emerald Expositions, said, “Onex’s 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.