Portfolio company MCI doubles its size IN Brazil through acquisition of JZ Congressos, a player in conference and association management
Geneva January 21st, 2014. MCI today announced the exciting acquisition of JZ Congressos, one of the biggest players in Brazils conference and association management market.
Doubling MCIs size in Brazil, the move will reinforce the companys capacity to offer its unique services and solutions to organisations in Latin America and expand service offerings to clients within both companies. The acquisition will also bring important investments to the Brazilian economy.
JZ Congressos is a respected Brazilian company, with more than 40 years experience in the corporate events and meetings market and in-depth knowledge of our market associations, said Juliano Lissoni, Managing Director of MCI Brazil. With this acquisition, MCI will expand its offerings to JZs clients, bringing them new ways to manage and measure events to improve return on investment, delivering operational excellence and energising
performance in their meetings and events management.
We are excited to join forces with a company that, in addition to our business objectives, shares our values of helping companies, governments and associations bring people together to create meaningful connections, said Juarez Augusto de Carvalho Filho, Executive Director of JZ Congressos, who will join MCI as Congress Director for Brazil.
MCI Brazil, a joint-venture with Grupo Alatur, has recorded impressive organic growth in recent years. A 26% growth margin was forecast for 2013, but we achieved a 50% growth, said Lissoni. This is no doubt due to the welcoming business approach used by MCI, and our focus on tailoring strategies and solutions to each clients unique challenges and opportunities. JZ Congressos shares this approach, and I am confident that this move will help us maintain an impressive 50% margin growth for the next 3 years.
MCIs leading position, its commitment to personalised services, and its focus on sustainability, technology and return on investment, the three main pillars for the event industry, provide strong foundations for future growth and the continued enhancement of relationships with clients.
Events and meetings organised by MCI Brazil in 2014 will turnover approximately R$ 80 million, around 40% of which will come from international meetings, congresses and visitors. Following the acquisition, MCI Brazil will manage at least 23 international congresses in 2014, and the forecast is to double the number of international events in the country in the next three years.
Source: Press Release on www.iriscapital.com