M&A Brief: How old is your event business when it’s ready to sell?

By John McGovern, CEO, Grimes, McGovern & Associates

In early May 2025, Hyve entered the supply chain and logistics space with their acquisition of Manifest. Manifest is a US-based event in the logistics and supply chain sector, founded in 2022.

Acquired just three years after inception of Manifest, this deal raises an interesting question: how long does it take to build an events business that’s ripe for acquisition?

While fast exits aren’t unheard of, they‘re not the norm. Most events are closer to five or even ten years old when they’re sold.

Manifest fit neatly into Hyve’s global portfolio – which spans ecommerce, fintech, marketing, and healthtech. The company had already scaled quickly.

The best acquisitions happen when the seller is a good fit with a buyer’s existing assets. Long-term value creation happens when the buyer owns several links in the “supply chain” of an industry.

With over 7,000 attendees from multiple markets and a strong brand position, it made for a strategic add-on. Hyve also confirmed plans to geo-clone the event in Europe – a sign that growth potential and cross-market fit played a big role.

The type of buyer also plays an important role. Strategic buyers, looking to integrate a business to gain competitive advantage, might be more willing to acquire smaller businesses closer to inception. In contrast, private equity buyers are looking to acquire, transform and exit businesses within 3-7 years to get a good financial return. They look for predictable cash flow and stable operations. As such, they might look for more mature companies with a longer track record.

Recent event deals

If we look at recent M&A deals in the events industry, we generally see companies closer to five years or older. While there’s no set rule, 5-10 years (generally closer to 10) is a good average for an event company to be acquisition-ready. The fastest exits are usually in tech-related or niche markets with strong revenue growth. Otherwise, a track record allows a business to prove their business model, refine their events and brand and establish a history of predictable revenue and profits.

However, there is no “hard and fast” rule. Plenty of events are far older than ten years. This simply means that for whatever reason, the owner/operators decided it was the right time to sell.

Grimes, McGovern & Associates is a leading lower middle-market Mergers & Acquisitions firm advising media, events, and information services businesses globally.

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