Truelink Capital Signs Deal to Acquire GES from Viad Corp

Rhea-AI Summary

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.

Positive

• 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

Negative

• None.

News Market Reaction – VVI

+17.52%

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+17.52% News Effect

On the day this news was published, VVI gained 17.52%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

LOS ANGELES and LAS VEGAS, Oct. 21, 2024 /PRNewswire/ -- Truelink Capital today announced that it has entered into a definitive agreement to acquire GES, a leading provider in the global exhibition and event industry. Financial terms will be disclosed publicly in Viad Corp's press release and on Form 8-K. The transaction is expected to close by the end of the calendar year 2024, subject to customary closing conditions.

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 North America, Europe, and Asia, GES provides comprehensive services that span strategy, creative design, logistics, and event production, enabling clients to deliver extraordinary event experiences. The company's innovative solutions cater to a wide array of industries, including healthcare, aerospace & defense, financial services, manufacturing, technology, and retail, offering end-to-end support for both live and virtual events. In addition to its core services, GES has successfully expanded into adjacent verticals, becoming a trusted partner for associations, independent organizers, corporate marketers, exhibitors, and agencies in the dynamic world of brand activation. Its leadership in this segment is supported by its ability to build long-lasting relationships with clients and partners alike.

"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
Peter Schultz
pschultz@truelinkcap.com

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SOURCE Truelink Capital

FAQ

What is the purpose of Truelink Capital's acquisition of GES from Viad Corp (VVI)?

Truelink Capital's acquisition of GES aims to invest in and expand GES' existing service offerings, enhance tech-enabled solutions, explore global growth opportunities, and leverage Spiro's creative excellence to grow in the agency business.

When is the GES acquisition by Truelink Capital expected to close?

The acquisition of GES by Truelink Capital is expected to close by the end of the calendar year 2024, subject to customary closing conditions.

Who will lead GES after the acquisition from Viad Corp (VVI)?

Derek Linde, currently GES' President, will take over as President & CEO of GES following the acquisition by Truelink Capital.

What industries does GES serve in the exhibition and event sector?

GES provides services to various industries including healthcare, aerospace & defense, financial services, manufacturing, technology, and retail, offering support for both live and virtual events.

How does Truelink Capital plan to grow GES after acquiring it from Viad Corp (VVI)?

Truelink Capital plans to grow GES by investing in existing services, pursuing organic growth and strategic acquisitions, enhancing tech-enabled offerings, expanding globally, and growing its presence in the agency business through Spiro.