IEG acquires controlling stake in Prostand and Colorcom

The Italian Exhibition Group (IEG), which acquired 51% of US stand contractor FB International Inc. in March, has continued on the acquisition trail, with the purchase of 60% of Rimini-based stand contractor Prostand.

The deal also brings IEG 100% control of Colorcom Allestimenti Fieristici (which has branches in Vicenza and Milan). The acquisition means the formation of a new platform in the stand fitting sector, with a portfolio of 5,000 clients in Italy and Europe.

The deal also signifies vertical integration supporting IEG’s core business of exhibition organisation and the diversification of its business in the context of ancillary services with a high added value.

IEG Group, originally created by a merger between Rimini Fiera and Fiera di Vicenza, specialises in organising events in five categories: Food & Beverage; Jewellery & Fashion; Tourism, Hospitality and Lifestyle; Wellness and Leisure; Green & Technology.

In recent years, IEG has embarked on a strategy of expansion abroad, including through establishing joint ventures in the USA, United Arab Emirates and in China.

IEG posted consolidated revenues of €130.7m in its 2017 financial year accounts, with EBITDA of €23.2m and a consolidated net profit of €9.2m.