The expected auction and subsequent sale of Clarion Events that has attracted quite a bit of media attention finally seems to be on course. The firm that is largely known for organising The London International Horse Show held at Olympia, is all set to clear the final hurdle in the process, if sources are to be believed.
The business takes care of over 50 events globally, including several prestigious art/antiques fairs at Olympia and Earls Court. In 2007, Hg Capital, a private equity firm that owns Clarion Events, had hired investment bank Close Brothers to seek advice on a strategic review of their business, which could be disposed off for anywhere between £120m and £150m.
Buyout groups Bridgepoint along with Veronis Suhler Stevenson and Exponent that has earlier invested in the popular Times Educational Supplement all have managed to make it through to the last stage of the ongoing auction process, according to reliable sources.
Ocean Media, backed by AAC Capital Partners and European Capital, providing equity & debt capital, have also been part of the process, although it is still not clear whether they’re in the last round of bidding.
Clarion was bought out by its management in 2004 for nearly £50m. The deal was executed by Simon Kimble as well as Hg Capital from the Earls Court and Olympia property group. People in know of the matter informed Mr Kimble was very much keen on leading a secondary buyout of the business.
 

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