December 24 - AXIO Data Group (AXIO) has sold Breakbulk Exhibitions to ITE Group plc (ITE), the leading exhibitions group, for a maximum consideration of USD42 million.
Breakbulk, which delivers exhibitions, congresses, workshops and media products serving logistics executives working in the oil & gas, traditional / renewable power generation, mining and infrastructure / construction markets, hosts six annual events, which bring together the world's breakbulk and project cargo logistics executives for education, strategy creation, business development and networking.
Henry Elkington, ceo of AXIO commented: "This transaction demonstrates the successful execution of our strategy of building and then realising value in our portfolio businesses. Total revenue in Breakbulk has grown at over 14 percent per annum over the last three years, mainly by attracting more exhibitors to its major events. In addition, we have laid the foundations for Breakbulk Middle East which will be staged for the first time in October 2015. Breakbulk has grown and prospered under AXIO's ownership. ITE as a focused international exhibition group is ideally placed to realise the full potential of Breakbulk in its next phase of growth."
"We will continue to drive performance in our businesses by focusing on markets where we can lead, investing for growth, and driving efficiency," Alli McEntyre, managing director of Breakbulk claimed.