Endeavor Business Media acquires multiple PennWell operating units from Clarion
February 22, 2019
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NASHVILLE, TN (February 22, 2019) – Endeavor Business Media has announced the acquisition of a number of the former PennWell media properties from Clarion Events including titles covering the oil and gas industry, industrial technology, dentistry, and water utilities. Endeavor CEO Chris Ferrell said, “I have long admired the work PennWell has performed in the B2B industry. When the opportunity came along to add a significant number of the former PennWell brands to our company we jumped at the chance. Their organizational structure and product mix will fit nicely with how we approach the business. We look forward to getting to know our new colleagues and clients.”
PennWell President and CEO Mark Wilmoth said, “Since Clarion acquired us last March, we have been working diligently on the transition, which included a deliberate plan to find a good home for PennWell businesses in markets that were not central to Clarion’s future goals. Endeavor Business Media is a young, rapidly growing company and will be a great parent for the PennWell media and events businesses serving the oil and gas, water, dental, and industrial technology sectors. Clarion and Endeavor will each have a continuing office presence in Tulsa and a base of talented employees essential to their respective strategies of growth, expansion, and service, much in the same way that the founders of PennWell built a legacy in Tulsa and worldwide over the course of the last century.”
Executive Chairman of Clarion Simon Kimble said, “We are delighted that the remaining PennWell properties are going to such an excellent home. Endeavor Business Media’s management team brings a wealth of expertise in the media and events sector, which they will use to support the next chapter in the evolution of PennWell. The properties included in the portfolio are incredibly strong, many are very long-standing, and they are all managed by a highly talented team. Finding the right partner to continue the PennWell legacy has been important to us and we are confident that the combination with Endeavor will create an exciting future for the business.”
“The addition of the highly respected PennWell brands is an exciting milestone for Endeavor,” said Caroline Ducas, Partner with Resolute Capital. “We are very pleased with the progress the Endeavor team is making toward building an outstanding portfolio of event and media properties.” Nashville-based Resolute Capital Partners, a provider of capital to lower middle market business and healthcare service companies, is the private equity sponsor of Endeavor Business Media.
After the transaction, Endeavor has almost 400 employees in 12 offices operating more than 40 print and digital brands. The company also conducts more than 40 events including eight large trade shows and conferences.
The financing for the transaction was led by Resolute Capital Partners and FirstBank, both based in Nashville, TN.
Berkery Noyes served as the exclusive financial advisor to Clarion Events Ltd.
About Endeavor Business Media
Headquartered in Nashville, TN, Endeavor Business Media, LLC was formed in late 2017 to acquire and operate trade publications, websites and events. The company targets B2B audiences around the country. The company has offices in Nashville, Tennessee; Tulsa, Oklahoma; Houston, Texas; Nashua, New Hampshire; Birmingham, Alabama; West Palm Beach and Sarasota, Florida; Arlington Heights and Skokie, Illinois; Fort Atkinson, Wisconsin; Akron, Ohio and Santa Barbara, California.
About PennWell Corporation
Founded in 1910 in Tulsa, Oklahoma, USA, PennWell Corporation is a privately held and highly diversified business-to-business media and conference and exhibition company that provides quality content and integrated marketing solutions for the following industries: Oil and gas, water and wastewater, lasers and optoelectronics, fiber-optics and cable, aerospace and avionics, LEDs and lighting and dental. PennWell publishes over 50 print and online magazines and newsletters, conducts a dozen conferences and exhibitions across the US, and has an extensive offering of books, maps, websites, research and database services.
About Clarion Events
Clarion Events operates over 180 events in 50 countries from 15 offices in the UK, the US, South Africa, Brazil, Germany, Singapore, UAE, Indonesia, Hong Kong and the Netherlands. Clarion can trace its roots back to 1947 and takes great pride in being one of the oldest independent event organizers in the UK. More recently the firm has developed an international portfolio of brands and now has interests in a number of global vertical industries including energy, digital marketing, security and defense, technology, fashion, retail and gaming. The teams at Clarion create uniquely effective and stimulating environments that can serve as a platform to build businesses, enhance customer relationships and accelerate product awareness. Learn more at www.clarionevents.com.
SOURCE: Endeavor Business Media