Closer Still

B2B exhibitions    |    www.closerstillmedia.com

 

Date Invested

May 2012

STATUS

Realised

SECTOR

LOCATION

London, UK

CONTACT

Kevin Keck

CloserStill is a leading international business-to-business exhibition organiser. It focuses on the healthcare and IT sectors and has been able to grow rapidly by using a highly disruptive business model. Where others charge high prices for content, CloserStill provides top quality content for free, or at a low cost to the visitor. This attracts thousands of high quality delegates, driving exhibitor demand and revenue. Phoenix invested in the business in May 2012.

OUR PARTNERSHIP

During the investment period, Phoenix and the management team developed an ambitious strategic plan to grow rapidly through new launches, acquisitions and international expansion. International growth was supported through the opening of a new office in Singapore and increased resourcing in London to support new shows in France and Germany. CloserStill’s first international event took place in 2013 and within just two years 20% of the business’s revenue was generated internationally. The company’s growth was accelerated with ten new show launches and six bolt-on acquisitions. In the three year investment period, staff numbers doubled, revenues tripled and profits quadrupled. CloserStill was sold in March 2015 generating a return of 3.6x cost for Phoenix.

"We needed financial muscle, we wanted strategic support - Phoenix provided it. They backed us and they backed our plan.”

Andy Center, CEO, Closer Still