Truelink Capital and Viad Close Transaction to Establish GES as Independent Business
Truelink Capital has completed the acquisition of GES from Viad Corp (VVI), establishing GES as an independent company. GES, a 90-year-old global leader in exhibition and event solutions, will continue under the leadership of Derek Linde as President & CEO. The company employs over 2,600 team members across North America, Europe, and Asia, providing comprehensive services in strategy, creative design, logistics, and event production.
The company serves various industries including healthcare, aerospace & defense, automotive, technology, and retail, offering support for both live and virtual events. This marks Truelink Capital's sixth acquisition, though financial terms were not disclosed.
Truelink Capital ha completato l'acquisizione di GES da Viad Corp (VVI), stabilendo GES come un'azienda indipendente. GES, un leader globale di 90 anni nelle soluzioni per fiere ed eventi, continuerà sotto la guida di Derek Linde come Presidente e CEO. L'azienda impiega oltre 2.600 membri del team in Nord America, Europa e Asia, fornendo servizi completi in strategia, design creativo, logistica e produzione di eventi.
L'azienda serve vari settori, tra cui sanità, aerospaziale e difesa, automobilistico, tecnologia e vendita al dettaglio, offrendo supporto per eventi sia dal vivo che virtuali. Questo segna la sesta acquisizione di Truelink Capital, anche se i termini finanziari non sono stati divulgati.
Truelink Capital ha completado la adquisición de GES de Viad Corp (VVI), estableciendo a GES como una empresa independiente. GES, un líder global de 90 años en soluciones para exposiciones y eventos, continuará bajo el liderazgo de Derek Linde como Presidente y CEO. La empresa emplea a más de 2,600 miembros del equipo en América del Norte, Europa y Asia, ofreciendo servicios integrales en estrategia, diseño creativo, logística y producción de eventos.
La empresa atiende a diversas industrias, incluyendo salud, aeroespacial y defensa, automotriz, tecnología y comercio minorista, ofreciendo soporte tanto para eventos en vivo como virtuales. Esta es la sexta adquisición de Truelink Capital, aunque los términos financieros no fueron divulgados.
Truelink Capital는 Viad Corp (VVI)로부터 GES의 인수를 완료하고 GES를 독립적인 회사로 설립했습니다. GES는 90년 역사를 가진 글로벌 전시 및 이벤트 솔루션의 선두주자로, Derek Linde가 사장 및 CEO로서 이끌 것입니다. 이 회사는 북미, 유럽 및 아시아 전역에 2,600명 이상의 팀원을 고용하고 있으며, 전략, 창의적 디자인, 물류 및 이벤트 제작에서 포괄적인 서비스를 제공합니다.
이 회사는 의료, 항공우주 및 방위, 자동차, 기술 및 소매 등 다양한 산업에 서비스를 제공하며, 라이브 및 가상 이벤트 모두에 대한 지원을 제공합니다. 이는 Truelink Capital의 여섯 번째 인수이며, 재무 조건은 공개되지 않았습니다.
Truelink Capital a finalisé l'acquisition de GES auprès de Viad Corp (VVI), établissant GES comme une entreprise indépendante. GES, un leader mondial de 90 ans dans les solutions d'exposition et d'événements, continuera sous la direction de Derek Linde en tant que Président et CEO. L'entreprise emploie plus de 2 600 membres d'équipe en Amérique du Nord, en Europe et en Asie, offrant des services complets en stratégie, design créatif, logistique et production d'événements.
L'entreprise sert divers secteurs, y compris la santé, l'aérospatiale et la défense, l'automobile, la technologie et le commerce de détail, offrant un soutien pour les événements en direct et virtuels. Cela marque la sixième acquisition de Truelink Capital, bien que les conditions financières n'aient pas été divulguées.
Truelink Capital hat die Übernahme von GES von Viad Corp (VVI) abgeschlossen und GES als unabhängiges Unternehmen etabliert. GES, ein 90-jähriger globaler Marktführer in Ausstellungs- und Veranstaltungs-solutions, wird weiterhin unter der Führung von Derek Linde als Präsident und Geschäftsführer tätig sein. Das Unternehmen beschäftigt über 2.600 Mitarbeiter in Nordamerika, Europa und Asien und bietet umfassende Dienstleistungen in den Bereichen Strategie, kreatives Design, Logistik und Veranstaltungsproduktion an.
Das Unternehmen bedient verschiedene Branchen, darunter Gesundheitswesen, Luft- und Raumfahrt sowie Verteidigung, Automobil, Technologie und Einzelhandel, und bietet Unterstützung sowohl für Live- als auch für virtuelle Veranstaltungen an. Dies ist die sechste Übernahme von Truelink Capital, wobei die finanziellen Bedingungen nicht offengelegt wurden.
- GES will operate independently, potentially allowing for more focused business strategy
- Retention of current leadership ensures operational continuity
- Strategic expansion opportunities through Truelink's investment commitment
- Global presence with 2,600 employees across three continents
- Financial terms not disclosed, creating uncertainty for VVI shareholders
- Divestiture impact on Viad's (VVI) future revenue streams unclear
Insights
The divestiture of GES by Viad Corp (VVI) represents a strategic shift that will allow Viad to streamline its operations and focus on its Pursuit hospitality segment. While financial terms weren't disclosed, this transaction is particularly noteworthy given GES's scale with over 2,600 employees across three continents.
The acquisition by Truelink Capital, marking their sixth portfolio company, positions GES for potential operational improvements and strategic acquisitions under private equity ownership. The involvement of multiple tier-1 financial advisors (BrightTower, Baird and Moelis) suggests this was a competitive sale process, likely yielding favorable terms for Viad shareholders.
For Viad investors, this divestiture should improve the company's financial profile by reducing operational complexity and potentially strengthening the balance sheet. The hospitality-focused Pursuit segment typically commands higher margins and offers better growth prospects in the current market environment.
This transaction marks a pivotal moment in Viad's corporate evolution, transforming it from a diversified services company into a pure-play experiential hospitality operator through Pursuit. The timing is strategic, capitalizing on the strong recovery in the events industry while allowing GES to scale independently under private equity ownership.
The retention of GES's current leadership team under Derek Linde suggests operational continuity, while Truelink's stated focus on strategic acquisitions indicates a growth-oriented approach that could benefit both entities. For Viad shareholders, this creates a clearer investment thesis focused on high-margin hospitality assets, potentially leading to improved valuation multiples as the market better understands the simplified business model.
"We are excited to officially begin our partnership with GES, a leader in the exhibition and event industry, and to build on its strong foundation," said Luke Myers, Co-Founder and Managing Partner of Truelink Capital. "Together with GES' exceptional leadership team, we will continue to invest in its core strengths in creative design, logistics and event management, pursue growth through strategic acquisitions, and expand its agency presence. We are grateful to Viad for their support during this transitional period, which has been instrumental in setting the stage for GES' next chapter of success."
GES, founded over 90 years ago, has built an exceptional reputation for delivering world-class exhibition, event, and brand activation solutions on a global scale, and will now operate as an independent company. Derek Linde, its current President, will continue to lead the business as President & CEO.
"We are thrilled to take the next step to become a standalone company," said Derek Linde. "Together with Truelink's stewardship, we will excel in delivering extraordinary event experiences for our clients across the globe.
With over 2,600 talented team members across
This transaction marks the sixth acquisition for Truelink Capital, a middle-market private equity firm focused on creating long-term value by partnering with industry-leading companies. The firm has a successful track record of operationally focused investments in the industrials and tech-enabled services sectors.
BrightTower and Baird served as financial advisors and Kirkland & Ellis served as legal advisors to Truelink Capital for the transaction. Moelis & Company LLC served as the financial advisor and Latham & Watkins LLP served as legal advisor to Viad Corp. for the transaction.
ABOUT TRUELINK CAPITAL
Truelink Capital is a middle-market private equity firm based in Los Angeles. Truelink pairs deep industry experience in the industrials and technology-enabled services sectors with a commitment to building partnerships that drive long-term value through an operationally focused strategy. Truelink partners with management, corporate sellers, and founders to accelerate growth through the execution of strategic initiatives and transformative add-on acquisitions. Truelink is investing out of Truelink Capital Fund I, a
ABOUT VIAD CORP
Viad (NYSE: VVI) historically operated through two businesses: GES and Pursuit. GES is a global, full-service provider for live events, offering a range of services from creative design and strategy to event production and logistics. GES serves a wide variety of clients, including major associations, exhibitors, and corporations, delivering impactful experiences that engage audiences and drive brand growth. Pursuit is an attractions and hospitality company that owns and operates a collection of inspiring and unforgettable experiences in iconic destinations in
For more information, visit www.viad.com.
Media Contacts:
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SOURCE Truelink Capital
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