Tarsus Group has announced its acquisition of the remaining 50 per cent of joint venture EJK Tarsus Mexico, along with the acquisition of 25 per cent of AMB Tarsus Exhibition in South East Asia and a strategic partnership with Streamline Marketing Group in the UAE.
In late 2017, Tarsus expanded its Mexican joint venture with US-based organiser E.J. Krause & Associates, taking over nine further events in Mexico from EJK. This latest deal sees Tarsus acquire the remaining 50 per cent of the portfolio for a cash consideration of approximately US$18.0m.
The acquisition of a further 25 per cent interest in AMB Tarsus Exhibitions, brokered by Mayfield Media Strategies, increases the organiser’s overall interest to 75 per cent. In 2015 Tarsus acquired a 50 per cent stake in organiser AMB Group as part of new joint venture AMB Tarsus Exhibitions, as reported at the time by EN sister magazine EW.
The new partnership with Streamline Marketing Group complements Tarsus’ existing aerospace portfolio.
Douglas Emslie, group managing director, said: “These deals represent an exciting expansion in three of our key territories. In line with our “Quickening the Pace 2” strategy we continue to buy in minority interests where there is a compelling business case to do so.
“Mexico is a large and fast-growing market and this agreement to acquire the remaining 50% interest in EJK Tarsus Mexico, thereby assuming full control of the Mexican business, represents an excellent opportunity for the Group to accelerate its growth.
“Through our AMB joint venture Tarsus has successfully expanded its footprint in South East Asia. Our acquisition of a further 25 per cent interest in the business allows Tarsus to take control of the operation whilst also retaining the existing entrepreneurial management who will continue to run the business day to day.
“I am also excited by the prospect of continuing to work with Andrew Siow and the AMB team in South East Asia. Andrew is a very experienced exhibition professional with over 30 years’ experience launching in the region.”