International business-to-business media company Tarsus Group has purchased the entire share capital of WR Kern Organisation, the holding company of Fairs and Exhibitions (F&E).

International business-to-business media company Tarsus Group has purchased the entire share capital of WR Kern Organisation, the holding company of Fairs and Exhibitions (F&E).

An initial cash consideration of £11.3 million will be followed by a payment of £5.5 million, based on the future performance of the business over the period to 30 April 2009.

WR Kern’s sole operating company, Fairs and Exhibitions (F&E), has been focused on the Middle East since 1976 where it is among the largest exhibition organisers. A significant proportion of F&E’s revenue is derived from the biennial Dubai Airshow, now in its tenth year and scheduled to be held between 11 and 15 November.

Douglas Emslie, Tarsus Group managing director, said: “This acquisition presents Tarsus with a unique opportunity to accelerate our strategy of expansion into fast-growing markets. The Dubai Airshow is now Tarsus’ largest event and immediately gives us scale and exposure in the Middle East.”

Due to the biennial nature of the F&E business, this acquisition is expected to be earnings enhancing in the current year and also over the biennial cycle of 2008 and 2009.