El Segundo-based Active Interest Media Inc. is selling the operator of one of the largest boat shows in the world to a British publishing and events firm.
Informa of London announced last week that it would acquire Yachting Promotions Inc. for $133 million, including $5 million that is subject to the business meeting performance and operating targets, from Active Interest.
Yachting Promotions operates five boating shows, including the Fort Lauderdale International Boat Show, which is marketed as the largest in the world. The Florida show reportedly draws 100,000 attendees, 820 exhibitors, and more than 1,200 boats each November.
Active Interest purchased Yachting, headquartered in Fort Lauderdale, in March 2006 during a period when the company was rapidly acquiring specialty magazines and associated trade shows.
It publishes magazines, puts on trade events, and produces videos for niche audiences. Active Interest is divided into six groups – Equine Network, Home Group, Healthy Living Group, Marine Group, Outdoor Group, and Creative Home Group.
It was formed by Wind Point Ventures, a Chicago private equity firm, in 2003 in partnership with Efrem “Skip” Zimbalist III, son of actor Efrem Zimbalist Jr. and a former chief executive of Times Mirror Magazines, publisher of enthusiast magazines Ski, Skiing, and Golf.
Active Interest representatives could not be reached for comment on the deal.
According to Wind Point’s website, the publisher and events promoter is led by Andy Clurman, a former senior vice president of Time4Media, a division of what was AOL/Time Warner.
Informa owns the Monaco Yacht Show, the leading yachting and boating event in Europe. With the addition of Yachting to its portfolio, the United States is expected to generate more than 50 percent of Informa’s revenue, according to the press release.
“Following three years of private discussions, we are delighted to bring YPI into the group,” Stephen A. Carter, Informa chief executive, said in a press release. “It will deepen our leadership in the growing international yachting and boating sector, with its attractive exhibitions complementing our existing ownership of the Monaco Yacht Show.”
The deal is expected to be completed this month.
