LAS VEGAS, USA — The company that, among other shows, also owns the US trade show Interbike, has been sold. Nielsen Expositions has been taken over by a Canadian stock market listed investment company called Onex Corporation.
Onex Corp. bought Nielsen Expositions for USD950 million (€725m) with which the investment company became the owner of 65 business-to-business trade shows and conference events including Interbike as well as the US Outdoor Retailer show. With the 65 shows and conferences Nielsen Expositions 2012 turnover stood at about USD183m (€140m).
Business as usual
According to a report by US trade journal Bicycle Retailer & Industry News, Interbike MD Pat Hus does not expect the change in ownership will have any significant impact to the shows. "It's business as usual. Of course there are shared services that will be looked at. But the impact to us internally and to our attendees and exhibitors is minimal. If anything, it is more opportunity to grow and support the shows. This is a group that wants to see growth."
Bicycle Retailer & Industry News
With the take-over Onex also became the owner of the trademark rights to Bicycle Retailer & Industry News, which is operated independently under license by a for-profit division of the US National Bicycle Dealers Association.
Onex Corp. is listed on the Toronto stock exchange. The financial services conglomerate has some USD15 billion in assets under administration.
Source: Bike Europe