Opinion by John McGovern, CEO & owner, Grimes, McGovern & Associates, LLC
Reading the headlines about the USA, the market seems fraught with unpredictability. Political drama, skirmishes in foreign territories, tariff wars and general uncertainty are common reading in the media.
But, surprisingly enough, John McGovern explains, in M&A the US market is on pace with the last couple of years. In fact, John remarks, “The US market for bolt-ons [single expos or trade show companies] is hopping.“
However, there are issues. The time that deals are taking to close is longer than it used to be. Due diligence (something we’ve covered in previous articles) is increasingly diligent. Buyers are closely examining the pacing of sales (year over year, show over show) – along with future growth categories and sectors for the purchases they’re making.
Twelve deals were completed in the first five months of 2025 – the same as 2024. Thirty-one deals were completed in all of 2024. McGovern continued, “With new private equity (PE) firms having entered the exhibition and media market consistently the last three years, flush with dry powder [cash on hand], they are actively looking to buy exhibition properties.”
The stats so far in 2025
Of the 12 sales in 2025, nine have been purchased by PE firms, an indicator that platform building continues. The events sold are a mix of small, medium and larger properties in hot markets: supply chain, tech, sustainability/ESG, HR and financial sectors.
According to McGovern, we can expect more deals and sales of expos this year compared to 2024. This claim is based on the large number of exhibitions and other business events presently up for sale. He said, “The current market in the US is robust and the pipeline looks healthy.”
McGovern continued, “Our inbound activity of businesses looking to sell is up 33% over 2024 numbers.”
The UK M&A market has a couple of large sales coming up on the horizon with Clarion’s suitors in the running (per the Financial Times). Other platforms are also reaching the point in their cycle where they may be considering similar options.
Grimes, McGovern & Associates is a leading lower middle-market Mergers & Acquisitions firm advising media, events, and information services businesses globally. See our transactions here. GMA offers a complimentary financial assessment that gives event owners a sense of marketability and price range in today’s market.
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