HYVE GROUP PLC — M&A Activity 2013

Jan 31, 2013

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RNS Number : 7467W

ITE Group PLC

31 January 2013

31st January 2013

Acquisition of Trade Link establishes presence in South East Asia

ITE Group plc, the international exhibitions group specialising in emerging and developing markets, today announces that its wholly-owned subsidiary, International Trade and Exhibitions (JV) Ltd ("ITE"), acquired a 75% stake in Trade Link ITE Sdn Bhd ("Trade Link"), a company registered in Malaysia for approximately £4m.  The remaining 25% of Trade Link is held by exhibition industry entrepreneur Albert Lai who remains as CEO of the company. 

Trade Link runs the successful "Metaltech", "Automex" and "Weldtech" events that take place together annually in May at Kuala Lumpur's Putra World Trade Centre.  Focused on the area of machine tool technology and metal fabrication, they are Malaysia's leading events in this growing sector occupying over 10,000m2 of exhibition space annually. Trade Link also run South East Asia's largest dedicated event for woodworking, "ASEAN Woodtech".

Revenue generated from the entire business is expected to be circa £2m in FY 2013 and the acquisition is expected to be earnings enhancing in this financial year.

Commentating on the acquisition ITE's Chief Executive Russell Taylor said:

"This acquisition is a strategic move for ITE into the South East Asian exhibition market. Trade Link operates some of South East Asia's key events in our strongest sectors which are expected to realise good growth in the future.

"We are very pleased to have retained the services of Albert Lai who created these events and we will be working closely with him to grow them."

-ends-

Enquiries:
Russell Taylor, CEO	ITE Group plc	0207 596 5000
Charles Palmer	FTI Consulting	0207 831 3113
James Serjeant	Numis Securities Ltd	020 7260 1000

This information is provided by RNS

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