B2B information. Pageant Media, the UK-based, privately-owned company serving the financial markets with news, information, research and events, has expanded further in the US with the acquisition of the Florida-based, The Pension Bridge Inc., a provider of “educational conferences” to institutional Investors, notably The Pension Bridge Annual and The Private Equity Exclusive. They are neatly elite B2B events: for the 2019 three-day Annual conference in San Francisco, for example, attendance is capped to ensure only 100 “manager firms” and 125 “pension funds/ consultants”. It is believed that this deal may include payment by some equity in Pageant, although the transaction value has not been disclosed. But, along with the 2017 appointment as chair of Bain private equity’s Graham Elton, the latest acquisition looks like a further strategic step towards some kind of fundraising, sale or even IPO. The 21-year-old Pageant (56% owned by its CEO and founder Charlie Kerr) has revenue of some £20m and EBITDA of perhaps £2m. It is thought this latest acquisitions may add some 5% to annual revenues. The subscriptions-dependant digital publisher claims to publish 1,000 articles a month for 2,500 paying member companies in 100 countries, and operates over 200 events per year, including conferences and round tables. It has an unmistakably smart, live-wire reputation among customers, employs more than 200 people and has offices in the UK, US, Hong Kong and Germany. The publicity-shy company has been having discreet discussions about future funding deals in London but the betting is that it will seek to make further acquisitions in order to increase its options – and valuation. Getting to something like £40m revenue and £8m EBITDA by 2021 would do it. Unless Reuters, Dow Jones, Bloomberg or the Financial Times come calling in the meantime.