Truelink Capital Signs Deal to Acquire GES from Viad Corp
Truelink Capital has announced a definitive agreement to acquire GES, a leading global exhibition and event industry provider, from Viad Corp. The transaction is expected to close by the end of 2024, subject to customary conditions. GES, with over 90 years of experience, offers comprehensive services including strategy, creative design, logistics, and event production for live and virtual events across various industries.
Luke Myers, Co-Founder and Managing Partner of Truelink Capital, expressed enthusiasm for the acquisition, highlighting GES' leadership in the industry and potential for expansion. Post-acquisition, Derek Linde will assume the role of President & CEO of GES. The deal aims to enhance GES' tech-enabled offerings and explore global growth opportunities, particularly in the agency business through Spiro.
Financial advisors for the transaction included Baird and BrightTower for Truelink Capital, and Moelis & Company for Viad Corp. Kirkland & Ellis and Latham & Watkins LLP served as legal advisors for Truelink Capital and Viad Corp, respectively.
Truelink Capital ha annunciato un accordo definitivo per acquisire GES, un fornitore leader globale nel settore delle esposizioni e degli eventi, da Viad Corp. La transazione dovrebbe concludersi entro la fine del 2024, soggetta a condizioni consuete. GES, con oltre 90 anni di esperienza, offre servizi completi tra cui strategia, design creativo, logistica e produzione di eventi sia dal vivo che virtuali in vari settori.
Luke Myers, co-fondatore e managing partner di Truelink Capital, ha espresso entusiasmo per l'acquisizione, sottolineando la leadership di GES nel settore e il potenziale di espansione. Dopo l'acquisizione, Derek Linde assumerà il ruolo di Presidente e CEO di GES. L'accordo mira a potenziare le offerte tecnologicamente avanzate di GES ed esplorare opportunità di crescita globale, in particolare nel settore delle agenzie attraverso Spiro.
I consulenti finanziari per la transazione includevano Baird e BrightTower per Truelink Capital, e Moelis & Company per Viad Corp. Kirkland & Ellis e Latham & Watkins LLP hanno servito come consulenti legali per Truelink Capital e Viad Corp, rispettivamente.
Truelink Capital ha anunciado un acuerdo definitivo para adquirir GES, un proveedor líder global en la industria de exposiciones y eventos, de Viad Corp. Se espera que la transacción se cierre a finales de 2024, sujeta a condiciones habituales. GES, con más de 90 años de experiencia, ofrece servicios integrales que incluyen estrategia, diseño creativo, logística y producción de eventos tanto en vivo como virtuales en diversas industrias.
Luke Myers, cofundador y socio director de Truelink Capital, expresó su entusiasmo por la adquisición, destacando el liderazgo de GES en la industria y su potencial de expansión. Después de la adquisición, Derek Linde asumirá el cargo de Presidente y CEO de GES. El acuerdo tiene como objetivo mejorar las ofertas tecnológicas de GES y explorar oportunidades de crecimiento global, particularmente en el negocio de las agencias a través de Spiro.
Los asesores financieros para la transacción incluyeron a Baird y BrightTower para Truelink Capital, y a Moelis & Company para Viad Corp. Kirkland & Ellis y Latham & Watkins LLP actuaron como asesores legales para Truelink Capital y Viad Corp, respectivamente.
Truelink Capital은 Viad Corp로부터 글로벌 전시 및 이벤트 산업의 주요 제공업체인 GES를 인수하기 위한 확정적인 계약을 발표했습니다. 이 거래는 일반적인 조건에 따라 2024년 말까지 완료될 것으로 예상됩니다. GES는 90년 이상의 경험을 가지고 있으며, 다양한 산업을 위한 라이브 및 가상 이벤트에 대한 전략, 창의적 디자인, 물류 및 이벤트 제작 등 포괄적인 서비스를 제공합니다.
Truelink Capital의 공동 창립자이자 매니징 파트너인 Luke Myers는 GES의 산업 내 리더십과 확장 가능성을 강조하며 인수에 대한 기대감을 표명했습니다. 인수 후 Derek Linde는 GES의 사장 및 CEO 역할을 맡게 됩니다. 이 거래는 GES의 기술 기반 제안을 강화하고 Spiro를 통해 에이전시 사업에서 글로벌 성장 기회를 모색하는 것을 목표로 합니다.
이번 거래에 대한 재무 자문사는 Truelink Capital에 Baird와 BrightTower, Viad Corp에 Moelis & Company가 포함되었습니다. Kirkland & Ellis와 Latham & Watkins LLP는 각각 Truelink Capital과 Viad Corp의 법률 자문사로 활동했습니다.
Truelink Capital a annoncé un accord définitif pour acquérir GES, un fournisseur mondial de premier plan dans l'industrie des expositions et des événements, auprès de Viad Corp. La transaction devrait se clôturer d'ici fin 2024, sous réserve des conditions habituelles. GES, fort de plus de 90 ans d'expérience, propose des services complets incluant stratégie, design créatif, logistique et production d'événements pour des événements en direct et virtuels dans divers secteurs.
Luke Myers, cofondateur et partenaire directeur de Truelink Capital, a exprimé son enthousiasme pour cette acquisition, soulignant le leadership de GES dans l'industrie et son potentiel d'expansion. Après l'acquisition, Derek Linde assumera le poste de Président et CEO de GES. L'accord vise à renforcer les offres technologiques de GES et à explorer des opportunités de croissance mondiale, notamment dans le secteur des agences à travers Spiro.
Les conseillers financiers pour la transaction étaient Baird et BrightTower pour Truelink Capital, et Moelis & Company pour Viad Corp. Kirkland & Ellis et Latham & Watkins LLP ont servi de conseillers juridiques pour Truelink Capital et Viad Corp, respectivement.
Truelink Capital hat eine endgültige Vereinbarung zur Übernahme von GES, einem führenden globalen Anbieter in der Ausstellungs- und Eventbranche, von Viad Corp angekündigt. Der Abschluss der Transaktion wird bis Ende 2024 erwartet und unterliegt den üblichen Bedingungen. GES bietet mit über 90 Jahren Erfahrung umfassende Dienstleistungen an, darunter Strategie, kreatives Design, Logistik und Eventproduktion für Live- und virtuelle Events in verschiedenen Branchen.
Luke Myers, Mitbegründer und geschäftsführender Gesellschafter von Truelink Capital, äußerte seine Begeisterung über die Übernahme und hob die Führungsposition von GES in der Branche und das Potenzial für Expansion hervor. Nach der Übernahme wird Derek Linde die Rolle des Präsidenten und CEO von GES übernehmen. Das Ziel des Deals ist es, die technologiegestützten Angebote von GES zu verbessern und globale Wachstumschancen, insbesondere im Agenturgeschäft über Spiro, zu erkunden.
Die Finanzberater für die Transaktion waren Baird und BrightTower für Truelink Capital sowie Moelis & Company für Viad Corp. Kirkland & Ellis und Latham & Watkins LLP fungierten respektive als rechtliche Berater für Truelink Capital und Viad Corp.
- Acquisition of GES by Truelink Capital, potentially strengthening market position
- Expansion opportunities in the agency vertical through Spiro
- Plans to enhance tech-enabled offerings in the core exhibition business
- Potential for global expansion and growth in international markets
- Continuation of leadership with Derek Linde as President & CEO post-acquisition
- None.
Insights
The acquisition of GES by Truelink Capital is a significant development for Viad Corp. While financial terms weren't disclosed in this release, the sale of a major business unit like GES will likely have a substantial impact on Viad's balance sheet and future earnings. GES, with its 90-year history and global presence, represents a considerable portion of Viad's operations.
Investors should watch for the upcoming Form 8-K filing, which will reveal the financial details of the transaction. Key points to consider:
- The impact on Viad's revenue stream and profitability
- How Viad plans to use the proceeds from the sale
- Potential strategic shift for Viad, focusing on its remaining business segments
The market's reaction to this divestiture will be important to monitor, as it may significantly affect Viad's stock price in the short term. Long-term implications will depend on how effectively Viad reallocates resources and refocuses its business strategy post-sale.
This acquisition reflects broader trends in the exhibition and event industry, particularly the increasing importance of technology integration and creative services. Truelink Capital's focus on enhancing GES's tech-enabled offerings aligns with the industry's shift towards more immersive and data-driven event experiences.
Key market trends to note:
- Growing demand for hybrid and virtual event solutions
- Expansion into agency-style services, as evidenced by GES's Spiro brand
- Increasing consolidation in the event industry
The potential for international expansion mentioned in the release suggests that GES, under new ownership, may become a more formidable competitor in the global events market. This could have ripple effects across the industry, potentially leading to further consolidation or strategic shifts among competitors.
For Viad investors, this move may signal a strategic pivot, potentially towards a more focused business model. The market's perception of this strategic shift will be important in determining the long-term impact on Viad's valuation.
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. With operations across
"GES' deep-rooted leadership in the exhibition and event industry, combined with its strategic opportunity to further expand into the agency vertical through Spiro, positions it as an ideal investment for us," said Luke Myers, Co-Founder and Managing Partner of Truelink Capital. "We are thrilled to partner with GES' exceptional and seasoned leadership team and will work together to continue to invest in the company's existing service offerings while pursuing growth both organically and through strategic acquisitions. Their long-standing relationships with clients and partners, alongside their ability to adapt, have been pivotal in driving the company's continued success. We see tremendous potential to enhance GES' tech-enabled offerings to improve the customer experience across the core exhibition business for associations, organizers, exhibitors, attendees, and partners. Additionally, we are eager to explore global opportunities to further expand GES' international reach, while growing its presence in the agency business by leveraging Spiro's creative excellence and GES' operational expertise to deliver turnkey customer experiences."
Post-transaction, GES' President Derek Linde will take over as President & CEO.
"This is a pivotal moment for GES," said Derek Linde. "As we move forward with Truelink Capital, we are eager to build on our legacy while enhancing our capabilities in technology and creative services. We are excited to partner with a team that shares our passion to create exceptional events and experiences, and we look forward to exploring new growth avenues together."
This acquisition marks another significant investment 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.
Baird and BrightTower served as financial advisors and Kirkland & Ellis served as legal advisor 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.
ABOUT VIAD CORP
Viad (NYSE: VVI ) is a leading global provider of extraordinary experiences, including attractions, hospitality, exhibition services, and experiential marketing through two businesses: Pursuit and GES. Our business strategy focuses on delivering extraordinary experiences for our teams, clients and guests, and significant and sustainable growth and above-market returns for our shareholders. Viad is an S&P SmallCap 600 company.
For more information, visit www.viad.com.
Media Contacts:
Truelink Capital
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