July and the first week of August saw 15 event businesses sold, more than all the deals in the first half (January-June) of the year combined! We spoke with John McGovern, CEO & owner of Grimes, McGovern and Associates, LLP about what makes certain exhibitions and events interesting and attractive to buyers for their portfolios.
“It comes down to five things,” he said. “Common customers, cash flow characteristics, typically high margins, scalability and simplicity of the model.”
Common customers
How will the expo fit into their existing portfolio? Does it have the same or adjacent audiences to what they are already producing? If you have built a good, solid community of buyers and sellers, it makes your event(s) interesting. For example, you may have a solid niche that will provide them with attendees for other events in their portfolio, or the event might fit in nicely along with other events in that sector and enable them to own the entire supply chain.
Cash flow characteristics
Event businesses are often able to collect a share of their revenue up front, while settling some costs after the event. Loyal customers retained year after year are a source of reliable long-term earnings, while minimising marketing costs. Additionally, your rebook rate (either on-site or post-show) is a good indicator of ongoing and successful long-term projections. Buyers who successfully self-finance and launch new initiatives or products are attractive.
High margins
Depending on the event, sponsorships, exhibit space and visitor registration fees can have high margins. Cash is king. Profits are important. Success is sexy. Buyers want to trust in investing in your event, so you have to be able to back it up. They want assurance that the current management team is already making money.
Scalability
With an injection of cash and resources, how fast can your event grow? Buyers want to know they can invest in your expo or event and reap rewards quickly. Another consideration is if your show may easily be replicated either regionally or internationally. If it can, it makes it even more attractive.
Simplicity of the model
The event business model centering around sponsorships, booths and registration fees has evergreen appeal. Buyers are increasingly looking to pair this model with content and data assets to engage their community throughout the year. Other things to consider would be to have a clear organisation chart, ownership structure and clarity on the value proposition for community served.
It’s clear with so many financial players looking to purchase bolt-ons to grow their platforms and the sheer number of deals that have gone through in 2025 to date, this is a sellers’ market. Examine how your exhibitions or events fit within the criteria listed above – and what you can do to meet all five.
Grimes, McGovern & Associates is a leading lower middle-market Mergers & Acquisitions firm advising media, events and information services businesses globally. See our transactions here.
John McGovern, CEO & owner of Grimes, McGovern and Associates, LLP
