San Juan Capistrano, Calif.—Onex Corp. is buying Nielsen Expositions, an affiliate of Nielsen Holdings, for $950 million in cash. Toronto-based Onex is a private equity firm with approximately $15 billion of assets under management.
The deal is expected to close in the current quarter.
Kosty Gilis, an Onex managing director, said in a statement that the firm will partner with Nielsen Expositions' management team to expand existing trade shows and strengthen its position through select acquisitions.
“Nielsen is committed to investing in and developing capabilities across our Watch and Buy segments,” said Brian West, CFO of Nielsen, in a release. “Divesting the Expositions business allows us to focus on these core areas that provide our clients with a comprehensive understanding of consumers while providing more flexibility to return capital to our shareholders over time.”