Inflexion Sells Minority Stake in CloserStill Media
Since Inflexion’s Partnership Capital Fund acquired a minority stake in CloserStill in March 2015, the business has grown significantly, including successful expansion into Asia, Germany and the US. Inflexion has supported the company’s acquisitive growth strategy, providing capital as well as M&A expertise, with eight acquisitions completed. Inflexion also worked with CloserStill to replicate its exhibitions internationally, with the launch of the first successful shows in the US (New York Vet) and Hong Kong (Cloud Asia). Overall, during Inflexion’s investment the number of exhibitions grew by just under 50% and the proportion of international revenues grew from 20% to 50%.
“Inflexion have been a tremendous backer, giving us just the right amount of support to grow our business internationally both through taking existing UK exhibitions overseas and through acquisitions. Their in-country experts were incredibly valuable, with their input enabling us to win our largest order in the history of our Asian business. We now look forward to continuing our growth with Providence.”, Phil Soar, Executive Chairman and CEO, CloserStill Media
“We are proud to have supported the management team in building a leading global exhibitions business. We are pleased that our expertise in acquisitions and international expansion was relevant to CloserStill as they implemented their ambitious growth plan. We wish the team all the best with their new owners.”Simon Turner, Managing Partner, Inflexion
Source: Inflexion press release