UK-based trade show organiser CloserStill Media has acquired an 80% share in the Spanish company Interalia which organises Infarma, the pharmacy exhibition which attracts some 30,000 visitors and sells some 100 sq m of exhibition space. The show alternates between Barcelona and Madrid and enjoys the support of Spain’s two largest pharmacy associations. The cash consideration was £8.79m.
The event complements CloserStill’s existing pharmacy portfolio which includes events in London, Paris and Birmingham.
CloserStill is 65% owned by Providence Equity Partners and 35% by its management team, as a result of the disposal last year of a minority stake by Inflexion private equity.
The company made EBITDA (pre exceptionals and non-cash adjustments) of some £21.25m from £60m revenue in 2018 which was 28% ahead or 12% organically. Its events were attended by 194k visitors.
Some 58% of CloserStill revenue came from the UK in 2018 (though the pace of international acquisitions implies that this proportion will have reduced substantially in 2019). The US last year accounted for 16% of revenue, France for 14%, and Germany for 8%.
