The private equity owner of one of Britain's largest trade show organisers has taken a major step towards a multi-billion-pound exit, appointing two investment banks to oversee a sale next year.
Bankers Appointed for High-Profile Auction
Sky News has learned that Providence Equity Partners has hired Jefferies and The Raine Group to manage an auction for CloserStill Media, the events group it has backed since 2018. The sale process is slated for 2026 and could value the business at well over £1 billion.
City sources indicated this weekend that the company's strong earnings recovery since the pandemic means a £1 billion price tag is likely to be the starting point for negotiations with prospective buyers. Providence Equity Partners acquired CloserStill seven years ago.
A Resilient Events Business Poised for Sale
CloserStill Media operates a vast portfolio of more than 200 specialist events in high-growth sectors like healthcare and technology. Demonstrating its expansion strategy, the company bolstered its presence in the United States by acquiring Billington Cybersecurity in September 2025.
The firm's performance, along with that of its industry peers, has rebounded strongly from the severe challenges of the Covid-19 pandemic, which at one point threatened the survival of many conference organisers.
Competitive Landscape and Potential Buyers
The upcoming auction is expected to attract significant interest. Potential bidders are anticipated to include trade rivals and other financial investors.
Providence, which alongside another private equity firm, Searchlight, also owns the major events organiser Hyve, has been contacted for comment on the sale plans. The events sector remains active, with players like Clarion, owned by Blackstone, having explored a sale earlier this year.
The appointment of Jefferies and The Raine Group sets the stage for one of the most significant deals in the UK business events space in recent years, highlighting the sector's renewed strength and investor confidence.
