New State Capital Partners announced today that it has acquired a majority stake in The Expo Group, a leading provider of critical services to the trade show and live event industry across North America. The investment was made in partnership with management and the existing owners of the Company, who reinvested substantial proceeds. Terms of the transaction were not disclosed.
Headquartered in Irving, TX, The Expo Group is renowned for its comprehensive event services, providing design, planning, asset procurement, booth rentals, logistics, and execution services as the architect for over 500 trade shows, live events, and exhibitor projects annually. The Company serves a diverse set of end markets on behalf of leading event organizers, independent trade associations, corporations, and higher education institutions.
“Partnering with New State is a significant milestone in the journey of our business,” said Ray Pekowski, founder of The Expo Group. “This collaboration not only honors the legacy we’ve built, but also sets the stage for an even brighter future. I am confident that with New State’s support, The Expo Group will continue to lead the industry and achieve new levels of excellence.”
CEO Randy Pekowski added, “Joining forces with the New State team marks an exciting new chapter for our growing company. Just as we invest in our customers as architects for connecting communities, they are investing in our future to help us expand opportunities for success. Their resources will allow us to enhance our operations and further scale our business, while continuing to deliver exceptional experiences for our clients. We look forward to leveraging this partnership to continue our path of record-breaking growth.”
“We established a thesis within the B2B trade show and live event services sector several years ago and are excited to invest in a premier player in the space,” said Kurt Lentz, Senior Principal at New State. “Together with Randy and team, we plan to drive continued organic growth as well as accelerate The Expo Group’s trajectory via strategic M&A.”
New State funded its investment out of Fund III and partnered on the transaction with Panos Partners, an independent sponsor founded by former events industry executive Bryan Scott. This marks the fourth investment in which New State has partnered with an independent sponsor.
McGuire Woods acted as legal advisors and Houlihan Lokey provided financial advisory services to New State. STS Capital Partners acted as financial advisor for The Expo Group.
About The Expo Group
The Expo Group serves as architects for connecting communities through the design and management of personalized, unforgettable tradeshows and events. The company helps its clients reimagine events by leveraging behavioral science to deliver customized brand experiences with valuable content, connections, and commerce. It has headquarters near Dallas with offices in Chicago, Las Vegas, Orlando and Washington D.C. For more information, visit https://theexpogroup.com/.
About New State Capital Partners
New State Capital Partners is an entrepreneurial-minded private equity firm that strives to be nimble, decisive, and cooperative. New State prides itself on a long-term outlook, approaching each potential investment as an opportunity to create lasting and valuable relationships with company founders and especially independent sponsors. The firm seeks to invest in market-leading, middle market companies with services-based business models. New State and its affiliates have invested in over 40 companies to date. For more information, visit www.newstatecp.com.
About Panos Partners
Formed in 2016, Panos is a Dallas-based private equity sponsor focused on making investments in middle-market healthcare and business services companies. Panos’ managing partners are seasoned operating executives who have a track record of building businesses and assisting entrepreneurs grow their enterprises. Panos has $175M+ in assets under management. For more information, visit https://www.panospartners.com.
