Pageant Media, the UK-based financial information and events company, has acquired Falk Marques Group, US-based organiser of events aimed at advancing women in private equity and venture capital.
The company, which may have some $4m of revenue, has been bought on an earn-out which, it is believed, may eventually value it at some $20m including $4m upfront.
The pioneering Women’s Private Equity Summit, which was launched in 2008, claims to be the largest event of its kind in the world, attracting 850 women. Its sister event, the Women’s Alternative Investment Summit, was launched in 2009. They will complement Pageant’s portfolio of Pension Bridge events for US investors and asset managers.
Falk Marques was founded by Beth Falk and Raul Marqués in 2006. In addition to the two core summits, they produce the Women’s Leadership Unbound Summit, and the weekly “Women’s PE Briefs” newsletter. They employ 10 people.
It is Pageant’s second acquisition since February when Intermediate Capital Group bought majority control in a deal which is believed to have valued the company at £145m – some 15 x EBITDA.
In May, it acquired the $5m-revenue hedge fund performance database Eurekahedge from the Mizuho Bank, of Japan, for an estimated $7-8m (7 x operating profit). That price was believed to have been one-third of what Mizuho had paid for the company in 2011. It seems likely that this latest deal is another example of opportunism by Pageant’s CEO and founder Charlie Kerr during the pandemic when many smart businesses have come under pressure, especially in the events industry.
Pageant Media was expected to have made EBITDA of £9.5m on revenue of £32m in 2019-20 – some 60% revenue growth in the past two years.
