Arc has entered into an agreement to acquire nine brands serving the HR technology and education technology sectors from LRP Media Group.
The acquisition will be the sixth and largest acquisition for Arc – the global events industry consortium led by Simon Foster and backed by New York-based private equity firm EagleTree Capital – in the 14 months since inception.
The purchase will add scale to the overall Arc platform and significantly expand the network in the US. Arc is a B2B events, data, and media platform, organising more than 120 events a year operating critical content platforms in HR technology, agriculture and food, financial services and investing and education technology.
Group CEO Simon Foster said: “This is a major development for Arc. The acquisition will expand our capabilities and operations in the US, and bring an experienced team, strong brands, and more high-growth verticals into the network. The HR Tech and Ed Tech teams have an impressive track record of launching and developing their brands, and we’re looking forward to working with our new colleagues to grow these portfolios and to further develop Arc in the United States.”
Ken Kahn, president and founder of LRP Media Group, added; “The HR Tech and Ed Tech portfolios include nine best-in-class brands that the teams have done a fantastic job transforming and expanding over many years. We are incredibly proud of the teams and brands and believe that we have found a great home for them with Simon and the Arc team. We look forward to watching them succeed in this new era.”
The portfolio reflects Arc’s strategy to connect business communities providing a diverse range of engagement solutions for facilitating networking and business growth. The professionals are brought together through content platforms and networking events, like HR Technology Conference and Expo, Future of Education Technology Conference, HR Executive, District Administration and University Business.
The acquisition is expected to close at the end of October. Canson Capital Partners, an Arc founding partner, served as financial adviser to Arc. Jones Day and Plural Strategy Group served as Arc’s legal adviser and strategy advisor, respectively. JEGI CLARITY represented LRP Media Group in the transaction.
