Informa to buy Yachting Promotions for £106m

Informa has agreed to buy Yachting Promotions Inc, the operator of some of the largest yachting and boat shows in the US, for £106m, from Active Interest Media.

The exhibitions, events and business intelligence group said the addition of YPI will combine several major US-based international yachting exhibitions with Informa's Monaco Yacht Show, the leading event of its kind in Europe.

The YPI portfolio includes the Fort Lauderdale International Boat Show, which is the largest in the world.

On completion, which is expected by early March, the deal will make Informa's Global Exhibitions division the largest contributor to group revenues and profit, with annual sales of more than £500m.

The consideration will be funded through existing debt facilities and it is expected the group's net debt to EBITDA ratio will be around 2.6 times immediately following completion, falling within the group's target range of 2.0 times to 2.5 times by the end of 2017.

Informa chief executive Stephen A. Carter said: "Following three years of private discussions, we are delighted to bring YPI into the group. It will deepen our leadership in the growing international yachting and boating sector, with its attractive exhibitions complementing our existing ownership of the Monaco Yacht Show.

"It follows the addition last year of Penton Information Services in the US, increasing our scale in the world's leading economy and making our Global Exhibitions division the largest business by revenue and profit at Informa. This forms part of our 2014-17 Growth Acceleration Plan, adding further balance and breadth across the group portfolio."