TORONTO, October 4, 2019 – Thomson Reuters (TSX/NYSE: TRI) today announced that it has acquired FC Business Intelligence (FCBI), a global business-to-business events specialist.
FCBI delivers high-end conferences and exhibitions to diverse sectors including energy, insurance, pharmaceuticals, transportation, travel, strategy and technology. Its offerings help senior business professionals stay at the forefront of change through insight sharing and networking with peers.
The business will be rebranded Reuters Events and will be operated as part of the Reuters News division of Thomson Reuters.
“This acquisition allows us to combine Reuters globally trusted brand, scale and editorial excellence with FCBI’s deep expertise in highly specialized events for professionals,” said Michael Friedenberg, president, Reuters. “As Reuters Events, they will help us to accelerate our growth and deliver on our mission to provide trusted intelligence that helps humans and machines make smart decisions. Moreover, this will create a new platform for our world-class journalism. I am thrilled that FCBI is joining Thomson Reuters.”
“We’re delighted to be joining the Reuters family, hugely excited by Michael’s vision for the future of Reuters Events and Reuters News and very much looking forward to the journey ahead,” said Piers Latimer, chief executive officer, FCBI. “In combination, there is tremendous opportunity to move into new markets, new geographies and to further enhance the value we provide to customers.”
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider. Founded over 168 years ago, Reuters is committed to the Trust Principles of independence, integrity and freedom from bias. With unmatched coverage in over 16 languages, and reaching billions of people worldwide every day, it provides trusted intelligence that powers humans and machines to make smart decisions. Reuters supplies business, financial, national and international news to professionals via desktops, the world's media organizations and directly to consumers at Reuters.com and via Reuters TV. Follow news about Reuters at @ReutersPR.
The transaction marks an exit for UK private equity business LDC. Terms of the transaction were not disclosed.
Thomson Reuters is a leading provider of business information services. Our products include highly specialized information-enabled software and tools for legal, tax, accounting and compliance professionals combined with the world’s most global news service – Reuters. For more information on Thomson Reuters, visit tr.com and for the latest world news, reuters.com.
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London 24.08.18: Leading global b2b events specialist FC Business Intelligence (FCBI), has today announced that mid-market private equity investor LDC has backed the management buyout of the company. The value of the transaction is undisclosed.
FCBI delivers high end conferences and exhibitions providing thought leadership to diverse sectors including the energy, insurance, pharmaceuticals transportation and travel. Its offering helps senior business professionals stay at the forefront of change through insight sharing and networking with peers.
The investment will enable FCBI to target further organic growth as it plans to increase the scale of its events and expand into new markets. The business will also look to make acquisitions both at home and overseas.
LDC is backing FCBI’s existing management team, led by Chief Executive Officer Piers Latimer. The investment marks an exit for its original founders.
Guy Grant, Exiting Founder, said: “It has been the greatest pleasure working with the FCBI team for the last 20 years. Their ethos has always been based on bravery to take on ever greater challenges and to provide best in-class experiences and services for the communities of which we are a part. I am delighted that the team will be continuing its journey with the greater resources and considerable expertise of LDC behind them. It’s a hugely exciting next chapter for the business.”
The deal was led by investment director David Andrews and investment manager Alex Wilby. David Andrews and Rob Schofield will join the board of the business with Tim Trotter joining as Non-Executive Chairman, bringing significant experience of growing PE-backed people businesses internationally. David Gilbertson, former CEO of EMAP and Informa, also joins as a Non-Executive Director, bringing a wealth of industry experience.
Piers Latimer, Chief Executive Officer of FCBI, said: “We have established a worldwide reputation for developing high-quality strategic events that deliver the insights business leaders need to direct their companies and shape their markets. With demand for our services only set to increase, we’re in a great position to accelerate growth. Bringing on board an experienced and well-connected investment partner in LDC felt right at this juncture and we’re excited to be moving forward with their support”.
David Andrews, investment director at LDC in London, added: “Piers and his management team have overseen a remarkable period of growth for FCBI thanks to their focus on content-rich, delegate-led events that deliver real value to more than 9,000 attendees and 1,400 sponsors and exhibitors each year. The opportunity now is for the management team to strengthen and extend this growth and we’re looking forward to supporting them on this journey.”
Banking facilities were provided by Muzinich & Co. Limited and HSBC.
LDC was advised by Houlihan Lokey, Plural Strategy Group, Eversheds Sutherland and BDO.
FCBI was advised by JEGI | CLARITY, CMS and BDO
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