Diversified Business Communications Makes Two Acquisitions
April 10, 2013
Portland-Maine-based Diversified Business Communications made two acquisitions - the Institute of Finance and Management (IOFM) from Greenhaven Partners, a U.S. private equity firm, and U.K.-based Intelligent Exhibitions Limited from Owner and Operator Versha Carter, a producer of international exhibitions and conferences.
Both buys will expand not only Diversified’s print, eMedia and marketing services product lines, but also events portfolio.
“These are strategic acquisitions that expand our reach into the business service, ocean technology and 3D data capture and imaging technology businesses,” said Nancy Hasselback, CEO and president of Diversified Communications, who recently announced her impending retirement.
IOFM focuses on information and tools in corporate financial management, accounts payable, credit, receivables & collections and corporate recruiting and security.
It produces the largest accounts payable events in the U.S., The Accounts Payable Conference & Expo, and publishes industry resources, such as the Controller's Report, Managing Accounts Payable and RecruitingTrends.
IOFM will continue to be led by its executive director, RD Whitney, and Diversified will operate these products from its division located in Portland.
“I am absolutely thrilled to be joining Diversified, and the IOFM platform and team we are bringing has tremendous potential for growth,” Whitney said. “It is going to be a very bright future!”
Intelligent Exhibitions’ portfolio includes Ocean Business, biennial events held in the U.K. with a focus on ocean technology, and two events serving the light detection and ranging (LiDAR) industry - the International LiDAR Mapping Forum and the European LiDAR Mapping Forum.
Diversified will add the LIDAR events to its 3D data capture and imaging technology group based in the U.S., which includes the SPAR Point Group products.
Versha Carter, the founder of Intelligent Exhibitions, and her team will continue to operate the ocean technology products from the Diversified’s U.K. division and will focus on launching additional events, according to Diversified officials.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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