Exhibitions and events group Informa Plc (LON:INF) has agreed to purchase America’s largest boat show operator in a deal worth £106mln.
Informa says the deal, to acquire Yachting Promotions Inc (YPI), strengthens is Global Exhibitions Division and increases its presence in the US marketplace.
With established exhibitions in Fort Lauderdale, Miami and Palm Beach the addition of YPI complements the group’s existing operation with the Monaco Yacht Show, Informa highlighted.
“Following three years of private discussions, we are delighted to bring YPI into the group. It will deepen our leadership in the growing international yachting and boating sector, with its attractive exhibitions complementing our existing ownership of the Monaco Yacht Show,” said Stephen Carter, Informa chief executive.
Informa highlighted that the deal vale, which represents 11.5x earnings, comes with an attractive structure and is immediately accretive to the group.