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San Juan Capistrano-based Emerald Expositions LLC has filed to raise up to $100 million in an initial public offering.
The tradeshow and events operator applied to be listed on the New York Stock Exchange as Emerald Expositions Events Inc., under the symbol “EEX.” Terms of the proposed IPO have not been disclosed.
Emerald earned $22.2 million on $323.7 million in revenue last year, according to documents filed with the Securities and Exchange Commission. Most of its revenue—92%—came from its 50 trade shows and 70 events, and the remaining 8% it generated from “other marketing services, including digital media and print publications that complement our event properties in the industry sectors we serve.”
It plans to use proceeds from the IPO to pay down its loans, “with the balance, if any, for working capital and other general corporate purposes.”
The offering’s main underwriters are BofA Merrill Lynch, Barclays Capital Inc., and Goldman, Sachs & Co.
Toronto-based private equity firm Onex Corp. purchased Emerald in 2013 from Nielsen Holdings NV for $950 million.