This Just In
  • The Meetings Mean Business Coalition (MMBC) relaunched its Worth Meeting About campaign to highlight the value of face-to-face meetings.
  • The campaign will crowdsource stories & testimonials on social media to develop a set of case studies and to create an online conversation.
  • Cobo Center will host the North American International Auto Show through 2025, after the show signed a new 8-year deal with Cobo in July.
  • SMG, which manages Cobo, signed its first agreement with the auto show in 2012. The NAIAS annually draws more than 800,000 attendees.
  • Effective Aug 1, 2017, the San Diego Convention Center (SDCC) will transition to ESCA's Worker Identification System (WIS) Badge.
  • The change takes full effect in Jan 1, 2018. Show workers will be required to carry a WIS badge or the credential issued by the SDCC.
  • The Consumer Technology Association, organizers of the annual CES show, was named one of Washington’s Top Workplaces by the Washington Post.
  • The CTA has made the prestigious list for four consecutive years. The rankings are based on employee responses about workplace culture.
  • Comexposium has launched a joint venture with Indonesia’s Amara Group. The partnership includes running the GIIAS auto show in Jakarta.
  • The partnership plans to increase international attendance at GIIAS and launch a new expo for Indonesia’s bus-and-truck market.

Emerald Exposition Seeks Green Light for Stock IPO

Hil Anderson
, Senior Editor
April 3, 2017
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San Juan Capistrano, Calif. – Emerald Expositions took the first step toward an initial public offering (IPO) of shares on the New York Stock Exchange by filing an application with U.S. Securities and Exchange Commission (SEC).

The Form S-1 was filed with the SEC on Friday, March 31 with no announcement from either Emerald or its equity owners, Onex Corp., which had earlier this year reportedly put Emerald up for sale earlier this year.

Emerald had no immediate comment on the eventual value of the shares or when they would begin trading on the New York Stock Exchange using the symbol EEX.

The filings indicated that Onex would continue to own the majority of the common stock, even after giving shares to the selling stockholders. “As a result, we expect to be a ‘controlled company’ within the meaning of the corporate governance standards of the New York Stock Exchange,” the paperwork stated.

The filing further stated that Emerald plans on using the IPO net proceeds to first pay off remaining debt. “The principal purposes of this offering are to reduce our financial leverage, increase our capitalization and financial flexibility, create a public market for our common stock and enable access to the public equity markets for us and our stockholders,” it said. “We intend to use the net proceeds to us from this offering to repay (unspecified dollar amount) of borrowings outstanding under the Term Loan Facility with the balance, if any, for working capital and other general corporate purposes.”

Onex said in its 2016 earnings report that Emerald reported earnings of $323 million for the year, a 5% increase over 2015, due largely to organic growth and acquisitions.

The projected outcome of the IPO points to a potential tectonic shift for the U.S. trade show industry. Emerald is the largest U.S.-controlled exhibitions organizer in a period that has seen aggressive pushes into North America by major European organizers, such as UBM, Informa and the already established Reed Exhibitions.

Emerald itself has been in an expansionist mode in recent years. In the last six months, Emerald acquired Digital Dealer Conference & Expo; National Pavement Expo; RFID Journal LIVE!; International Drone Conference and Exposition; and the CEDIA trade show.

Emerald was the leading show management company on the latest Trade Show Executive Gold 100 with a dozen of the largest trade shows in North America. And three Emerald shows were on the latest TSE Fastest 50.

Reach Chief Financial Officer Philip Evans at (949) 226-5700 or phillip.evans@emeraldexpo.com

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