SAN JUAN CAPISTRANO, Calif. (BRAIN) — Emerald Expositions Events Inc. has filed for an initial public offering with the Securities and Exchange Commission.
The company, owned by the Onex private equity company, owns and operates the Interbike and Outdoor Retailer trade shows, in addition to about 50 other shows. It is the largest operator of trade shows in the U.S. and had revenue last year of $323.7 million, with $22.2 million in net income. Emerald also owns Bicycle Retailer & Industry News, which is operated under license by NBDA Services.
In its filing with the SEC on Friday, Emerald said all of its trade show franchises are profitable and said there are significant opportunities for mergers and acquisitions in the industry.
Emerald's largest show category is in "Gift, Home & General Merchandise," which includes 13 trade shows focused on consumer goods mostly used in and around the home. They include ASD Market Week March, ASD Market Week August, NY NOW Winter and NY NOW Summer shows. The category generated $124 million in revenue last year.
Sports-related trade shows are Emerald's second-largest category, generating $71 million in revenue last year. Emerald has 18 sports shows, including Interbike, Outdoor Retailer, Surf Expo, Imprinted Sportswear Show and the Sports Licensing & Tailgate Show, each of which is well-known within its respective industry vertical.
Onex bought Emerald in 2013 from Nielsen Holdings NV for $950 million. The IPO's underwriters are B. of A. Merrill Lynch, Barclays, and Goldman Sachs. The company's stock would trade on the New York Stock Exchange under the symbol EEX.
