Apollo Funds to Acquire Emerald and Questex to Create Leading North American B2B Events Platform

Apollo has announced that Apollo-managed funds have entered into separate definitive agreements to acquire Emerald Holding, Inc. and Questex, LLC in an all-cash transaction, with the intention of combining the two businesses into a leading North American B2B experiential events and media platform. Together the companies would run approximately 160 events across complementary end markets, pairing Emerald's category-leading exhibitions with Questex's events portfolio and its 365-day digital engagement model. Emerald stockholders will receive 5.03 US dollars per share in cash, a 42.1 percent premium to the unaffected share price and an estimated closing enterprise value of about 1.5 billion US dollars. The Emerald board unanimously approved the deal, and Onex, which beneficially owns more than 90 percent of Emerald shares, signed a support agreement to vote in favour. On completion Emerald will delist from the New York Stock Exchange and become a private company. Apollo Managing Director Shahid Bosan said that as AI and digital tools expand how professionals connect, they simultaneously raise the value of trusted in-person gatherings. Emerald President and CEO Hervé Sedky and Questex CEO Paul Miller both framed the combination as a route to greater scale and long-term capital. Closing is expected in the second half of 2026, subject to customary conditions and regulatory approvals. Emerald also cancelled its first-quarter 2026 earnings call.