Emerald Holding, Inc. acquired all assets of Lodestone Events, LLC for $10.2 million.
January 08, 2023
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Emerald Holding, Inc. (NYSE:EEX) acquired all assets of Lodestone Events, LLC on January 9, 2023. All Lodestone employees will join the Emerald team, with Lodestone founders Lindsay Hubley and Jessica Kirchner joining Emerald's management team and continuing to lead the Overland Expo series. The team will also oversee Emerald's previously announced Outdoor Adventure X show, Emerald's new consumer lifestyle event for the outdoor recreation enthusiast.
Emerald Holding, Inc. (NYSE:EEX) completed the acquisition of all assets of Lodestone Events, LLC for $10.2 million on January 9, 2023. As part of the asset purchase agreement, Emerald Holding also assumed certain liabilities of Lodestone Events. The purchase price, including working capital adjustment consists of $10.2 million, which included an initial cash payment of $9.5 million and contingent consideration with an estimated value of $0.7 million. The contingent consideration liability related to the acquisition consists of a potential payment based on Lodestone's average annual EBITDA during the period from January 1, 2025 through December 31, 2026. The payment is expected to be settled in the second quarter of 2027.The Emerald funded this transaction with cash from operations.
Emerald Holding, Inc. is an operator of business-to-business (B2B) trade shows in the United States. The Company integrates live events, media content, industry insights, digital tools, data-focused solutions and e-commerce platforms into three complementary business lines: Connections, Content and Commerce. Its segments include Connections, All Other and Corporate-Level Activity. The Connections division includes a collection of B2B trade show franchises, which typically hold positions within their respective industry verticals. The Content division includes B2B print publications and digital media products that complement its existing trade show properties. These print and digital media products provide industry-specific business news and information across 20 sectors. The Commerce division offers B2B e-commerce and digital merchandising solutions, serving the needs of manufacturers and retailers through its Elastic Suite and Bulletin platforms.