Viad Corp, a public company, has entered into a definitive agreement with Los Angeles-based private equity firm Truelink Capital to acquire GES, a global provider of services to the exhibition and events industry, for 535 million dollars.
The acquisition includes GES Exhibitions, a provider of global exhibition and logistics services; global experiential agency Spiro; and onPeak, SHOWTECH and Visit, which provide event hosting, power/lighting and registration services, respectively.
Upon completion of the transaction by December 31, 2024, pending regulatory approvals, due diligence and other customary closing conditions, GES will operate as a private entity within Truelink’s portfolio of businesses. Some of GES and Spiro’s largest trade show clients include Informa, ICSC, AMT, McDonalds, Pfizer, Merck and Boeing, to name a few.
“This is an exciting time for GES,” said GES President Derek Linde. “The business is experiencing tremendous momentum and our team is delivering strong revenue growth, margin expansion and customer service. The publicly traded Viad conglomerate has been a great home for GES for decades, and we are excited to begin a new chapter as a private company with Truelink, which believes in our ability to continue providing leadership, innovation and growth of the sector.
Related: Profits: Viad turnover, profits above forecast in the second quarter
Why it matters
The company will become Truelink’s first trade show and join the equity firm’s portfolio of business training, marketing services and technology platforms, as well as a few manufacturing companies, according to GES officials.
With a workforce of more than 2,600 employees and thousands of active union partners around the world, GES and its companies boast decades of experience supporting brands and events in a range of capacities. event marketing across various industries including healthcare, aerospace and defense, financial services, manufacturing, technology and retail.
“GES is a trusted brand with a proven track record of delivering best-in-class services to global exhibitions and experiential marketing verticals,” said Luke Myers, Co-Founder and Managing Partner of Truelink. “We look forward to working with this talented team to help the company realize its full potential.” »
Related: Earnings: GES and Spiro Report Year-Over-Year Revenue Growth in Q1
Upcoming Leadership Changes
Following the closing, current GES President Derek Linde will become President and CEO. He will be joined by Jeff Quade, president of GES North America Exhibitions; Jason Stead, President of GES EMEA Exhibitions; and Spiro President Jeff Stelmach, who will continue to lead operational activities following the transaction.
Additionally, Viad will rebrand and relaunch as Pursuit, transforming itself into a true attractions and hospitality leader, with Viad President and CEO Steve Moster moving to an advisory role.
“We remain committed to delivering extraordinary experiences to our customers around the world,” Linde added. “This partnership with Truelink will allow us to intensify our focus on innovation and enhance our capabilities across our differentiated global platform.
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