UK-based exhibition organiser Nineteen Group has been sold to an additional private equity fund for around £225m (US$297m).
The sale establishes a new Growth Partnership Fund, led by Kline Hill Partners and co-led by Ares Management, and includes the continued involvement of Nineteen’s original investor, Phoenix Equity Partners.
The ‘continuation’ fund is worth £200m and will help drive Nineteen’s growth and acquisition strategy.
Phoenix Equity Partners’ original flagship fund invested in Nineteen Group almost six years ago when the UK-based organiser had seven shows and employed 28 people. Nineteen Group now employs 174 people and runs 21 shows across three continents.
“Our vision is to be the best organiser and media business globally, enabled by powerful culture. With Phoenix continuing by our side, we do not doubt achieving this goal,” Nineteen Group CEO, Peter Jones (pictured) said. “We love the Phoenix team. They believe in face-to-face, embrace culture-first, and quite frankly, they have been stellar partners.”
Along with Nineteen Group, the new fund has also acquired a private dental clinic group, Envisage. Both businesses have a combined enterprise value of around £450m.
David Burns, managing partner, Phoenix added: “We are excited to continue the journey with Nineteen and Envisage, two fabulous businesses that represent the best of what we do. We are delighted to be reaffirming our support for them with this transaction. Each company has consistently delivered on its ambitious plans, and we believe there is significant opportunity for further growth.”
