International B2B media company and exhibition and conference organiser Diversified Communications, has announced the expansion of its Clean Energy portfolio with the acquisition of Midwest Solar Expo (MWSE). Midwest Solar Expo will join Diversified Communications’ Intersolar & Energy Storage North America (IESNA), a portfolio of US-based conferences and trade shows focused on solar, energy storage, EV charging infrastructure and manufacturing.
“The addition of Midwest Solar Expo to our Clean Energy portfolio further strengthens our commitment as a company to the renewable energy sector,” said Oakley Dyer, corporate VP, strategy and corporate development at Diversified Communications. “This acquisition was a perfect fit, both strategically and culturally. We are always looking for acquisitions that align not only with the industries that we serve but also our values as a business. Diversified is a unique acquirer in the B2B media landscape, as one of the few family-owned companies of scale. I think this makes us a great home for sellers looking to find someone to carry on and grow what they have built.”
“Midwest Solar Expo was founded to illuminate the future of the renewable energy market in the Midwest and now becomes our second regional expansion following Intersolar & Energy Storage North America Texas, which is set to launch 19-20 November, 2024, in Austin,” said Wes Doane, vice-president, Clean Energy at Diversified Communications. “MWSE’s platform has focused on the intersection of policy, finance, technology, and business model innovation in the Midwest, and its growing exhibition targets the region’s specific challenges, offering professionals the tools they need to successfully navigate this ever-changing market.”
Diversified Communications acquired Intersolar North America in 2019 and Energy Storage North America in 2020 and has continued investing in the renewable energy industry with the expansion of its Clean Energy portfolio which today comprises events, conferences and digital networks, including Energy Storage North America, Smart Energy Decisions , Net Zero Forum, Renewable Energy Forum, Intersolar & Energy Storage North America Texas – and now Midwest Solar Expo.
In addition to its media portfolio, Diversified Communications owns and operates a 1.5-megawatt solar farm in Brunswick, Maine.
Grimes, McGovern & Associates (GMA) was the exclusive advisor to Midwest Solar Expo in the transaction, which was represented by Tim Smith, of GMA.
“We are seeing much improved M&A activity vs Q4 2023. We continue to see high buyer interest in events in the large sectors that are, no surprise, the most well-capitalised in the public markets – Energy, Technology, Health Care. Solar and anything renewable is the hottest part of the Energy sector. While the buyer in this deal is not PE-backed, our research showed a remarkable 18 PE firms invest in portfolio companies with substantive face-to-face event revenues globally since Covid. This is on top of the 20+ pre-Covid that are still active,” John J. McGovern, CEO and owner Grimes, McGovern & Associates, tells EW.
Midwest Solar Expo will be next held 9-11 June, 2025, in Chicago, Illinois.
