Hanley Wood, which specializes in media, marketing, and events for the construction industry, has agreed to sell its exhibitions business, Hanley Wood Exhibitions, to British business media company Informa PLC, it announced yesterday.
According to media-industry trade magazine Folio, the sale is for $375 million and includes 17 trade shows and events across the real estate, design, and construction sectors, including World of Concrete, The International Surface Event, and the recently-purchased Greenbuild Conference & Expo.
"Since 2000, Hanley Wood Exhibitions has led the industry as a best-in-class producer of tremendously vital and successful events," Hanley Wood CEO Peter Goldstone said in a statement. "Informa recognized the power and value of the trade show business we've built over the years. Informa has an exciting, long-term strategic vision for the Exhibitions business and how it fits within its international operations and its existing portfolio of construction and real estate events. It will be a great home for its customers and employees."
Under Informa's management, Hanley Wood Exhibitions will be rebranded Informa Exhibitions US and will maintain its headquarters in Irving, TX. Current leader Rick McConnell will continue to lead the group as president of Informa Exhibitions US, Construction and Real Estate.
"We are very excited about the addition of such an outstanding trade show business," said Stephen A. Carter, group chief executive of Informa. "This is a terrific portfolio of leading construction exhibition brands that will become a key component of our Global Exhibitions Division. In combination with other recent acquisitions, we have significantly strengthened our presence in the U.S., demonstrating our commitment to the sector and the region."
Although it will no longer own or manage its trade shows, Hanley Wood will continue to be involved in them: Under a long-term partnership with Informa, it will continue to provide them with editorial and marketing support.
"This partnership agreement will allow Hanley Wood Media to maintain its role as the official media and information provider to the various events we have supported for many years," Goldstone said. "At the same time, our shared customers, business partners, and attendees will benefit from the continued collaboration between the two companies."
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