Global B2B events organiser UBM has acquired Allworld, operator of Asian and Middle Eastern trade shows AllWorld Exhibitions for US$485m (approx. £383m).
The deal will see UBM secure access to Allworld’s presence across 11 countries including China, Singapore, South Korea, Thailand, Vietnam, Kuwait, Bahrain and more.
Allworld generated revenues of US$97.2m and EBITDA of $37.6m (38.7 per cent margin) during the twelve months ending 30 June 2016. The Asian exhibition business operates 51 tradeshows across nine industry sectors.
“The acquisition of Allworld is wholly in line with our Events First strategy and represents an exceptional opportunity to accelerate growth by investing in a high-quality events business,” said Tim Cobbold, CEO of UBM.
“In so doing we cement our position as the leading events business in Asia and achieve the number one position in the fast-growing ASEAN region. We see excellent opportunities to accelerate organic growth in the business.
“Allworld’s management and employees bring tremendous experience and expertise to UBM and I look forward to working with them to realise the growth potential of the combined business.”
Key members of Allworld’s management team will continue to manage the business within UBM and will report directly to the UBM senior leadership in Asia. Allworld’s outgoing chairman will assist UBM with the integration process.
J.P. Morgan Cazenove acted as financial adviser to UBM in relation to the acquisition. BCMS acted as financial adviser to Allworld Exhibitions.