TORONTO, Ontario (BRAIN) — Onex Corporation has completed its purchase of Nielsen Expositions, the owner of Interbike, for $950 million. The Canadian private equity firm announced last month that it had agreed to buy the company from Nielsen Holdings. At the completion of the sale, Nielsen Expositions has been renamed Emerald Expositions.
Besides Interbike and the Outdoor Retailer shows, Nielsen Expositions owns Bicycle Retailer & Industry News, which is operated independently under license by a for-profit division of the National Bicycle Dealers Association.
“Onex’ acquisition of our business has given us a partner that will help Emerald pursue new growth opportunities while continuing to deliver exceptional value to our exhibitors and attendees,” said David Loechner, CEO of Emerald Expositions.
Onex has approximately $16 billion of assets under management. Its businesses have assets of $44 billion, generate annual revenues of $37 billion and employ approximately 243,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol OCX.