3 minute read
EDspaces Sold to Leading Expositions Company
EDmarket will remain the sponsor and program planner
by Tina Manzer
On December 18, EDmarket members voted unanimously in favor of a plan to sell its annual EDspaces event to Emerald Holding, a tradeshow company that produces more a than 140 event and market platforms. They range from the Campus Safety Conference to the International Fastener Expo. The sale, which was finalized on December 21, was necessary to keep the association solvent, wrote outgoing EDmarket Board Chair Angela Nelson in a letter to members. Here is how she explained the need for the transaction.
For the past 10 years, EDmarket has undertaken a significant rebranding and turnaround primarily driven by the success of the EDspaces event. With this event being our primary source of revenue, the cancellation of our in-person meeting in Charlotte and pivot to a digital conference due to the COVID-19 pandemic has left us without the financial resources to continue operating under the current model.
The proposed new agreement [with Emerald] states that EDmarket will remain the primary sponsor of EDspaces and still be involved in the development of the education conference during the event. EDmarket will receive a significant payment
at closing allowing continued operations, and establishes a 20year sponsorship agreement with Emerald resulting in a future revenue stream for EDmarket based on the top-line revenue for the event.
As part of the agreement, EDmarket will remain committed to
EDspaces by continuing to sponsor and support the event for years to come. Through our alliance with Emerald, with its added resources and tradeshow creativity, we look forward to growing
EDspaces and making it an even better investment for the exhibitors, buyers and our industry members. Angela also provided a list of the ways EDmarket would benefit from the sale. She said it will – • Replenish association reserves ensuring EDmarket remains an important industry resource. • Protect significant EDspaces 2020 Exhibitor Deposits deferred to 2021. • Ensure EDspaces will continue to be the premier event for the education facilities market. • Guarantee EDmarket remains the primary sponsor of
EDspaces and the education thought leader for the event. • Provide member discounts for exhibit space and registration. • Generate an ongoing revenue stream for EDmarket without the liability or cost structure of managing the event. • Provide EDmarket the capital to reinvent the association to better serve a changing market.
“Moving forward, EDmarket will be able to continue its 105-year history as a key resource and connector to the education marketplace,” says Jim McGarry, EDmarket president & CEO. He and the EDmarket team will be working closely with Emerald’s EDspaces team for a smooth transition. Joe Tucker, Loraine Coleman and Scott Beyer have joined Emerald and will remain key resources for exhibitor success and continuity. “The remaining EDmarket staff members will support the Board of Directors’ refocusing efforts to improve membership value and enhance growth and opportunity for the education market,” McGarry adds. The financial terms of the transaction were not disclosed.
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A belief in “The show must go on”
With offices in California, Georgia, Kentucky, Massachusetts, New Hampshire, New Jersey, New York and Ohio, Emerald Holding Inc. (NYSE:EEX), “builds dynamic, market-driven business-to-business platforms that integrate live events with a broad array of industry insights, digital tools, and data-focused solutions to create uniquely rich experiences,” according to investor.emeraldx.com. “As true partners, we strive to build our customers’ businesses by creating opportunities that inspire, amaze, and deliver breakthrough results. Our teams are creators and connectors who are thoroughly immersed in the industries we serve and committed to supporting the communities in which we operate.” (continued on page 28)
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