CloserStill Gets $1.8B Backing as Event Travel Becomes Big Business

Searchlight Capital Partners has agreed to invest in CloserStill Media alongside Providence Equity Partners, the company’s existing owner.

The deal gives the two firms co-control of the London-based B2B events company. Industry reports value the transaction at about £1.3 ($1.77 billion).

Providence is not fully exiting the business. Instead, it will remain invested and can reinvest to support CloserStill’s next growth phase. Searchlight said the new capital will help CloserStill buy smaller event businesses, launch new shows, and improve its digital and sales tools.

CloserStill has become a global events platform

CloserStill runs events in technology, healthcare, learning and HR, and future transport and infrastructure. Its portfolio includes Ai4, Data Centre World, the London Vet Show, Learning Technologies, and the Tech Show series. These events are built for professional audiences and help companies meet clients, suppliers, investors, and partners.

The company has expanded quickly under Providence, which bought CloserStill in 2018. CloserStill now has around 850 employees, more than $300 million in annual revenue, and EBITDA margins above 30 percent. About 70 percent of its revenue comes from international markets, which shows how far the company has moved beyond the UK.

Event travel becomes a bigger corporate travel priority

The deal also fits a wider shift in corporate travel, where meetings and events are becoming a stronger focus for travel platforms. Kayak for Business is adding an Events feature to help companies organize travel for conferences, meetings, recruiting trips, and other business gatherings.

Photo by Nguyen Minh on Unsplash