Clarion Events, ICE and EiG organizer, sold to Providence Equity

It is rumored that the agreement, valued at more than US$ 303 million, should have been announced by Clarion Events executives this past January 9. Providence Equity would have competed with such companies as ITE Group, Penton Media, Charterhouse Capital Partners and Carlyle Group, to acquire the firm.

Providence Equity is expected to invest strongly in Clarion Events. This acquisition follows 2004’s US$ 76 million management buy out funded by Hg Capital which saw the firm acquired from parent company Earls Court & Olympia.

For the i-Gaming sector, the main issue would be the fate of Clarion’s online gaming show EiG. The show has not done as well as the company would have hoped in the past few years and the question will be whether Providence focuses all its energies and finances on the very successful ICE show taking place at the end of this month in London or decides to continue to work on EiG.

Clarion and Providence did not return requests for comment at the time of writing, although the Providence Equity website lists Clarion Events as one of its investments.

Clarion organizes more than 200 events worldwide, with its biggest trade shows covering the defense and security sector, oil and gas and telecoms. It also holds major consumer events on travel, housing and parenting.