UK-Based UBM May Acquire California-Based Advanstar
Santa Monica, CA – British communications and events company UBM Plc is reportedly in the final stages of talks to acquire privately-held US trade show organizer Advanstar for around $900 million.
California-based Advanstar is best known for putting on the bi-annual Magic Show in Las Vegas, the largest fashion and apparel trade show in the US.
The US company generates roughly $95 million in earnings before interest, taxes, depreciation and other factors, and could sell for roughly 10 times that amount, according to press reports.
According to its website, UBM, which owns PR Newswire, is the world’s second-largest “pure play” events organizer.
Advanstar is an event and market services business that serves professionals in the fashion, licensing, life sciences and ‘power sports’ industries. The company has about 600 employees in North America and Europe.
DHL Announces First-Ever “Sustainable Logistics” Catwalk