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M&A

COMEXPOSIUM

Acquired by

CHARTERHOUSE

FRANCE Professional Services EV [500m EUR - 1b EUR] 05/2015

Target

COMEXPOSIUM

Acquirer

CHARTERHOUSE

Context

The entry of Charterhouse Capital Partners into the capital of Comexposium marks a decisive step in the evolution of the event organizer, facilitating the exit of Unibail-Rodamco, which wished to refocus its activities on its core real estate business. This transaction is characterized by a unique strategic partnership between a global private equity fund and a major consular institution, the Paris-Ile-de-France Chamber of Commerce and Industry (CCIR). The strategic rationale for the operation is dictated by the group's need to accelerate its international development to maintain its rank among the world leaders in the sector. The new majority shareholder is committed to supporting an ambitious "buy-and-build" strategy, aiming to acquire exhibition portfolios that are competitive or complementary across the globe. Governance has been specifically structured to balance the fund's financial control with the CCIR's strategic prerogatives, including veto rights and strict management conditions. This move comes in a context of rapid concentration in the event industry, where the ability to fund external growth has become indispensable to avoid being outpaced by Anglo-Saxon giants in the sector. Backing by a financial partner of this stature allows the company to have the resources necessary to transform its domestic dominance into lasting global leadership, while optimizing its operational efficiency and its global distribution network.

Target

Created in 2008 following the merger of the trade show activities of the Paris-Ile-de-France Chamber of Commerce and Industry (Comexpo) and Unibail (Exposium), Comexposium is a leading global organizer of large-scale events. The group manages and owns a diversified portfolio of B2B and B2C exhibitions across numerous industrial sectors, including flagship events such as SIAL for the food industry and the Foire de Paris. Its business model is based on the rental of exhibition space, the sale of specialized services to exhibitors, and visitor ticketing, supported by recognized logistical and commercial expertise. Strategically, the company holds a dominant position in the French market while having developed a significant international footprint. It operates as a global networking platform, facilitating commercial exchanges for thousands of exhibitors and hundreds of thousands of annual visitors. The company relies on an agile organizational structure capable of managing large-scale events that require complex coordination between institutional partners, venue managers, and professional federations.

Ent. Value

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Equity Value

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Multiples Analysis

EV / Revenue

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EV / EBITDA

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EV / EBIT

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Historical Financials (EUR)

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EBITDA
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2015
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2014
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Other operations with COMEXPOSIUM