Market & Industry

Apollo Funds Finalize Emerald and Questex Acquisition, Forge New B2B Events Powerhouse

Image of the Couture jewelry show, an event produced by Emerald. - nationaljeweler.com

Apollo Funds, a managed fund of private equity firm Apollo, has officially completed its acquisition of trade show operators Emerald Holding, Inc. and Questex, LLC. The all-cash transaction, initially announced in May, unites two prominent B2B experiential events and media companies into a single, scaled platform poised for significant growth.

A New Era for B2B Events

The integration of Emerald and Questex brings together complementary portfolios, creating a leading North American B2B experiential events and media platform. The combined entity will feature approximately 160 events across various end markets, merging Emerald’s category-leading exhibitions with Questex’s differentiated events and its year-round digital engagement model. This strategic combination is expected to accelerate organic growth and serve as a key partner for businesses in the expansive B2B events landscape.

The acquisition saw Emerald stockholders receive $5.03 per share in cash, representing a 42.1% premium to its unaffected share price prior to the announcement of strategic alternatives. The estimated closing enterprise value for Emerald was approximately $1.5 billion. Following the acquisition, Emerald’s common stock has ceased trading on the New York Stock Exchange, and the company will now operate as a private entity.

Leadership and Integration

Paul Miller, who previously served as CEO of Questex, has assumed the role of Chief Executive Officer for the combined company. Hervé Sedky, former President and CEO of Emerald, will transition to a senior advisor role. Shahid Bosan, Managing Director at Apollo, expressed confidence in the new leadership, stating, “Paul is an experienced operator who shares our vision for building a scaled, customer-centric platform at the forefront of the B2B events industry.”

The executive leadership team for the integrated company includes:

Vince DiMaggio, Chief Financial Officer
Issa Jouaneh, Chief Operating Officer
Kate Spellman, Chief Commercial Officer
Kurt Nelson, Chief Talent Officer
Sara Altschul, Chief Legal Officer and Company Secretary

The integration of Emerald and Questex is expected to occur over the coming months.

Strategic Vision and Market Impact

“This transaction combines two market leaders with iconic brands, deep customer relationships, and differentiated capabilities, to create a scaled platform positioned to accelerate organic growth, invest in innovation, and deliver even greater value for customers, employees, and other stakeholders,” said Shahid Bosan. “We look forward to supporting and working closely with the leadership team as they build a leading B2B events and media business.”

Paul Miller added, “Today marks an exciting milestone as we embark on a new chapter as one company. By bringing together the best of Emerald and Questex, we are creating a stronger, differentiated platform with the scale, offerings, and talent to better serve our customers and partners. With Apollo’s support and a strong leadership team in place, we are well-positioned to execute against our strategy, expand our portfolio, and capitalize on the significant opportunities ahead.”

Emerald’s Portfolio

Emerald’s operations encompass a broad range of B2B event organizing, integrating live events, media content, industry insights, digital tools, and e-commerce platforms. Its portfolio includes notable events like Couture and antique jewelry shows held in Las Vegas, Miami, and Coconut Grove, Florida. Previously, Emerald divested NY Now and the JA New York Show before this acquisition.

Advisors