Informa is set to acquire Clarion Events from Blackstone for £2.24 billion (US$2.96 billion), expanding its presence in high-growth B2B events markets including gaming.
The deal, announced Tuesday, is expected to close in the fourth quarter of 2026 at a valuation equivalent to 11.1 times Clarion’s expected 2027 EBITDA.
Clarion is expected to generate more than £575 million (US$759.4 million) in revenue in 2027. Its WorldGaming business, including ICE and iGB L!VE, will form part of the acquisition alongside brands serving sectors such as defence and electronics.
Blackstone acquired Clarion in 2017 from Providence Equity Partners and held the business through the COVID-19 pandemic, when live events were largely shut down.
Informa CEO Stephen Carter said the acquisition would return the company to its ambition of becoming the world’s largest B2B live events business. The transaction will also see Informa spin out its academic Taylor & Francis business, leaving the group focused on B2B live events.
“The addition of the Clarion company will give further oxygen and capability to our existing portfolio,” Carter said in a video posted on Informa’s LinkedIn, highlighting gaming as one of Clarion’s market positions. The combined group is expected to generate annual revenue of more than $6 billion, with underlying revenue growth of 7%, Carter said.
“Informa’s data, digital capability and international reach are exactly what our live and digital ecosystem needs to go further, faster,” Alex Pratt, Managing Director of Clarion’s WorldGaming, said.
Following completion, Informa’s B2B live events business is expected to generate more than £4.2 billion (US$5.55 billion) in revenue across around 1,000 specialist brands. The company said the acquisition would provide geographical complementarity across North America, Asia and Europe, while creating further growth opportunities in India, the Middle East and Africa (IMEA), where Clarion has a “minimal presence.”
“The addition of Clarion will reinforce Informa’s leading position in B2B Live Events, adding world-class brands in attractive growth categories,” Informa said. “The complementary portfolios and benefits of combining Clarion’s brands into Informa’s growth platform will create significant opportunities for incremental revenues, establishing the enlarged B2B Live Events business as a 7%+ underlying growth operator.”
Around £50 million (US$66 million) in annual operating savings are expected from efficiencies across Informa’s operations, procurement, shared services, event delivery and corporate functions following the acquisition.
The combined businesses are also expected to generate a further £25 million (US$33 million) in annual operating profit from additional revenue by 2029.
Clarion CEO Lisa Hannant will remain in her role following the acquisition and join Informa’s executive leadership team. “This marks an important new chapter for our business,” Hannant stated.
She said Clarion had built a portfolio of market-leading brands and strong positions in attractive markets, adding that Informa’s investment recognised the quality of its business, brands and people.
The acquisition will be funded in cash through dedicated acquisition financing and the net proceeds of an equity placing and retail offer totalling around £940 million (US$1.24 billion).
Informa expects pro forma net debt to remain below three times EBITDA at the end of 2026 and fall below 2.5 times by the end of 2027. The company will also pause its existing share buyback programme to help fund the transaction.
Informa expects the acquisition to increase adjusted diluted earnings per share by a mid-single-digit percentage in 2027 and generate a double-digit post-tax return on invested capital within three years.