AFRICA – UK-headquartered Clarion Events has expanded its footprint in the energy and utilities market by acquiring African-focused conference and events player, EnergyNet.
Clarion Conference Chief Executive Russell Wilcox said the company became aware of EnergyNet following its purchase of African conference player Spintelligent in 2009. Financial details of the transaction have not been disclosed. The deal was brokered by Mayfield Media.
EnergyNet has been linking government officials and private sector executives through a range of events including its flagship Africa Energy Forum, held annually in Europe.
The company also runs Energy Access Africa and several executive meetings.
Wilcox said Spintelligent and EnergyNet would work as complementary brands within the global Clarion portfolio. He pointed out Spintelligent’s events are held in Africa, while EnergyNet’s forums are attended by pan-European and global investors and focus more on professional services and financial issues.
The business will be managed within the Spintelligent portfolio.
“With EnergyNet, we can bring our exhibition expertise and best practices to the African Energy Forum and make it more of a confex event by increasing the buyer/vendor marketplace within the event,” Wilcox said.
As part of the deal, EnergyNet’s owner and MD Rod Cargill will join Clarion as a non-executive director.
“EnergyNet fits our general acquisition objectives in that it is a small owner-operated business that we can inject resources into,” Wilcox continued. “The company has a good relationship with the market place, a good community to tap into and brand awareness, but needs capital and sales and marketing investment in order togrow. Integration is not so much a matter of integrating staff as it is integrating the products into our existing African business.”
Wilcox said there was an opportunity to either take the African Energy Forum model to other emerging markets within Latin America or Asia, or run a spin-off event in Asia to attract investment dollars from that region.
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