Providence Equity explores £1bn sale of CloserStill Media amid sector growth

Providence Equity Partners is considering the sale of CloserStill Media, a UK-based events business, in a deal that could exceed £1bn.

Sources indicate that discussions are in early stages and no final decisions have been made. The transaction would be the latest in a wave of deal activity within the events sector.

CloserStill Media is a leading organiser of conferences across business technology, infrastructure, transportation, and healthcare industries. Its events portfolio includes key conferences on data centres, industrial vehicle technology, and dentistry. Under Providence’s ownership since 2018, the company has strengthened its position as a trusted platform for professional networking and industry insights.

The events industry has seen a strong rebound post-pandemic, surpassing pre-Covid levels as businesses return to in-person conferences. This resurgence has sparked a series of high-profile transactions. In 2023, Informa acquired Ascential’s conferences, including Cannes Lions, for £1.2bn. Meanwhile, Blackstone is preparing to sell Clarion, and KKR acquired Superstruct Entertainment for €1.3bn in a deal involving European music festivals.

Providence, a Rhode Island-based private equity firm, has been highly active in the events space. Alongside Searchlight Capital, it acquired UK events company Hyve in 2023. The potential CloserStill sale aligns with Providence’s strategy to capitalise on the strong market recovery and growing investor interest in scalable, high-quality events businesses.

The outcome of this potential sale will be closely watched, reflecting continued confidence in the events sector’s resilience and growth potential.

Source: Financial Times

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