The events management sector will undergo more consolidation, according to a corporate finance firm that advised on the recent sale of Yorkshire-based World Events Group to healthcare company United Drug.
The events management sector will undergo more consolidation, according to a corporate finance firm that advised on the recent sale of Yorkshire-based World Events Group to healthcare company United Drug.
Precision Corporate Finance, led by managing director Neil Ackroyd, also advised on the sales of TMO and Universal CIT, both events management businesses, to BI and United Drug respectively.
Says Ackroyd, ‘The sector is highly competitive and international in its nature. We are expecting further consolidation and expect to advise more vendors or purchasers.’
London law firm Kerman and Co also advised on all three deals.
United Drug is an Irish public company listed on the Irish and UK stock exchanges, and has been acquiring companies in the events sector since 2007.
The company is paying £13.5 million in cash for World Events Group, with an additional sum of £2.7 million dependent on agreed profit targets being hit.
