Sentinel Capital Partners Buys Home and Garden Show Company Marketplace Events
February 3, 2016
Private equity firm Sentinel Capital Partners bought Marketplace Events, which organizes home and garden shows in the United States and Canada. Terms of the deal were not disclosed.
"We are very excited about our investment in Marketplace Events," said Michael Fabian, a partner at Sentinel. "We seek to invest in niche market leaders, and Marketplace Events is the clear leader in the North American home and garden show industry.”
He added, “Moreover, the business was extremely resilient during the 2008 economic downturn and should benefit from positive tailwinds in the home remodeling and repair sector in the years ahead."
Headquartered in Solon, Ohio, Marketplace Events organizes and operates consumer shows targeting the home improvement and enthusiast market, including remodeling, home decor and gardening.
Marketplace's show portfolio is comprised of 44 total events, including 29 U.S. home and garden shows, 13 Canadian home and garden shows and two holiday boutique shows.
The shows bring together 14,000 exhibitors, 1.5 million consumers and 1.5 million unique Web visitors on an annual basis.
Marketplace expanded its portfolio rapidly in the past few years, including the acquisition of Casa Latina Home Expo, Edmonton Renovation Show and two more home shows in Raleigh, N.C.
Marketplace Events employs 110 people across 12 offices in North America. The organizational structure, operations and employee base of Marketplace Events are not affected by this transaction. All current shows and staff will continue with the business.
"We have never been more confident in our business model or our future than we are now," said Tom Baugh, Marketplace Events' CEO. "Our shows provide an invaluable face-to-face meeting place for our exhibitors and consumers. We believe our partnership with Sentinel will allow us to accelerate our growth. Although we will continue to launch new shows, the biggest single change will be our ability to make strategic acquisitions more aggressively."
The company expects to announce six new shows by the end of February 2016, which will take the portfolio to 50 total events.
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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