International event organiser and digital services group Informa has announced, 18 May, the addition of specialist B2B events, data and media group, Chicago-based Winsight, for $380m, payable in cash to owners HPS Investment Partners.
Stephen A. Carter (pictured), group chief executive, Informa, said: “Following on from the acquisition of Tarsus, we are delighted to further expand our B2B portfolio through the addition of Winsight. Alongside Technology, Life Sciences and Aviation, this now adds Foodservice to our roster of category leading B2B businesses with scale, international reach and an increasingly diversified service offering spanning live and on-demand events, specialist data/research, specialist media and related B2B digital services.”
He added: “This acquisition is fully funded by in-year cash flow growth and our balance sheet, and will further enhance revenues, margins, earnings and cash flow.”
The combination of Winsight with Informa’s existing B2B Foodservice portfolio brings together leading specialist brands such as FSTEC, Catersource, CREATE and the National Restaurant Association Show, as well as specialist data and research and media (Restaurant Business, CSP, Nation’s Restaurant News, Supermarket News).
Informa expects the new combination of businesses to create operating synergies through areas such as procurement, real estate, technology and event contracts, as well as incremental revenue opportunities through the cross-marketing of major brands, international sales and digital expansion.
Informa’s first party data engine, IIRIS will directly benefit from Winsight’s close relationships with exhibitors, attendees and subscribers, adding an estimated Known, Engaged, Marketable Audience (KEMA) of up to one million.
Winsight’s revenue is generated almost entirely in North America, where it has a team of more than 300 staff, largely based out of Chicago and Washington DC.
Within Informa Markets, the group has a strong portfolio serving the Asian food and foodservice market through brands such as Hotelex, Food & Hospitality and HOFEX. In addition, it runs events across the broader food market, including National Products Expo, Supplyside West and Vitafoods.
The deal for Winsight includes an earn-up of $20m, payable subject to the delivery of stretch revenue and EBITDA growth. In 2023, Winsight full year revenues are expected to be c.$100m and EBITDA $35m+.
Separately, Informa confirmed that it recently completed the acquisition of Tarsus, a deal first announced on 9 March.
