UBM stages Ithaca deal

International business information group United Business Media plc has added six events to its portfolio following a multi-million pound deal.


International business information group United Business Media plc has added six events to its portfolio following a multi-million pound deal.

International business information group United Business Media plc has added six events to its portfolio following a multi-million pound deal.

The London-based group acquired the events through buying Ithaca Business Media, a business-to-business exhibition, events and media group.

UBM bought Ithaca through its business information subsidiary, CMP, for more than £14 million in cash.

Ithaca was sold by its management and NVM Private Equity, which backed a management buy-out two years ago from US firm Penton Media. The private equity firm has made three times its original investment with an IRR of more than 60%.

The deal adds three trade exhibitions to UBM; Internet World, Leisure Industry Week and Service Management Europe. The deal also includes three smaller events; London Calling, Triple i and SALTEX.

The acquisition follows a busy period of deal making for UBM, which has recently bought Intermodal South America Trade Show for £3.4 million, Semiconductor Insights for £13 million, Notilog for £2 million, Australian Prescription Products Guide for £400,000 and How Machines Work for an initial £600,000.

UBM specialises in news distribution as well as events, publications, online media and business information. It is listed on the London Stock Exchange and has 5,000 staff in more than 30 countries. Last year, it made an operating profit of £137 million from a £740 million turnover.

Marc Barber

Raven Connelly

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

Related Topics

Venture capital funding