Questex Sets Vision on the Experience Economy and Expands Portfolio - Acquires the Live Experience Assets (including Live Design), Club Industry and World Tea Expo
December 3, 2019
NEW YORK, December 3, 2019 – Questex's mission is to create a world-class information services business by advancing companies who help people live longer, healthier and better lives through the Experience Economy.
Today, Questex announces it is acquiring the Live Experience assets including Live Design, Club Industry and World Tea Expo. The acquired portfolio aligns perfectly with Questex’s focus on the Experience Economy, and will join the Company’s other assets focused on the Hospitality industry.
“The Experience Economy is here. Companies driven by ‘experiences’ have a competitive advantage with business growth. In fact, they grow four times faster than companies that don’t embrace the Experience Economy,” said Paul Miller, CEO, Questex. “Research shows that 74 percent of consumers prioritize experiences over products or things. The customer experience has taken over from price and product features as the key brand differentiator because individuals want to participate in meaningful work completed on their own timetables. As businesses compete for the attention of customers, experiences become a unique selling point.”
Questex’s Hospitality market portfolio includes properties such as the International Hotel Investment Forum (IHIF), Nightclub & Bar and the SIBEC Sports & Health Industry event.
The Live Experience and World Tea assets complement Questex’s Restaurant & Bar portfolio. Research shows that tailwinds are boosting the restaurant industry with food-service expenditures growing at 6.4 percent a year and tea market growth in the food service, specialty and the ready to drink markets align with the expansion of Questex’s Restaurant & Bar portfolio. In addition, lighting and design creates experiences in nightclubs and bars along with other experience venues making Live Design (LDI) a perfect fit with Questex’s Nightclub & Bar focus.
The Club Industry assets fit with Questex’s SIBEC Sports & Health Industry event as well as the hosted buyer environments Questex delivers in this market. Consumer experiences such as events and activities, spectator sports, membership clubs and sports centers are fast-growing, while expenditures on membership and sporting clubs are also growing strongly.
The Live Experience assets also include the rights to the XLive brands including the XLive Esports Summit and the WFX Network.
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Questex is a leading global business information and events company serving corporate clients and industries that are driving economic growth and business innovation around the world. The Company drives business investment, innovation and demand creation in the markets it serves by bringing together investors, buyers, sellers, and professionals through its over 125 tradeshows, conferences, and hosted buyer events. Questex complementary digital media and data assets enable the company to engage with key decision makers in its core markets year round. For additional information, please visit Company’s website (www.questex.com).
About MidOcean Partners
MidOcean Partners is a premier New York-based alternative asset manager that specializes in middle market private equity and alternative credit investments. Since its inception in 2003, MidOcean Private Equity has managed approximately $4.8 billion of committed capital and has targeted investments in high-quality middle market companies in the consumer and business services sectors. MidOcean Credit Partners was launched in 2009 and currently manages over $8 billion across a series of alternative credit strategies, collateralized loan obligations (CLOs), and customized separately managed accounts as of December 31, 2019.
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