International trade show producer DMG World Media has sold the majority of its UK-based events business to publishing and exhibitions company Quartz Business Media.
The deal between DMG’s Redhill-based business and Quartz, which will be completed in mid-September, includes nine of DMG’s 17 events and nine of its 12 publications in the industrial-based chemicals, glass, metals, coatings and commodities sectors. Quartz will continue to run the business from the Redhill site.
DMG CEO Mike Cooke says: “Our Redhill based business is a good business on its own, but as our strategic direction has taken us away from publishing, we decided to sell it”.
Both the Middle East Coatings Show and Gastech group will remain under the ownership of DMG, but managed on behalf of the company by Quartz.
Quartz chairman Keith Harris, who previously worked with MD Paul Michael at the Redhill office, says he has been on the acquisition trail for several months now, having recently acquired the International Antiques and Collectors Fairs, and the Ski and Snowboard magazine and show, Outdoor Show and Vitality with Michael and other investors.
“In times of difficulty you can either knuckle down and keep a low profile, or you can be bold and use your resources to expand your business and the latter is what we have chosen to do,” he tells conference-news.
“Our philosophy has always been to have magazines and events working together in the same industrial sector,” adds Michael.
DMG’s UK-based technology and digital marketing business, which includes brands such as ad:tech, iMedia and Evanta, remains unaffected by this transaction.