Tarsus buys into China
Article Date: Mar 03 2008A London-based business-to-business media group has started expanding into emerging markets with an acquisition in China. LSE-listed Tarsus Group, which has interests in exhibitions, conferences, publishing and online media, has bought 50 per cent of Hubei Hope Exhibition Company.
The deal was agreed with Hubei OIN-Hope Exhibition Service for £1.4 million and is expected to close next month if granted approval from the Chinese government.
On completion £850,000 will be paid with a further £200,000 due if financial targets are achieved. In addition, Tarsus and the vendor will invest some £350,000 each to expand the business organically and through acquisition.
Tarsus managing director Douglas Emslie says increasing the group’s business in emerging markets is a key part of its growth strategy.
He adds: 'Exhibition groups of Hubei Hope’s size and quality are extremely hard to come by in China and, as such, this acquisition is a major step forward in our strategy. As well as providing a platform for further growth in the more developed Shanghai market, it also gives us a leading position in the Central and Western Chinese regions.'
Tarsus operates across several sectors, including labels and packaging, medical, travel and tourism, discount goods, education, recruitment, aerospace, IT and marketing. The group has offices in France, Germany, Dubai and the US.
Hubei Hope, which was founded in 2000, arranges 27 events each year in three sectors: medical equipment; industrial equipment; and leisure. In the year to January 2008, the acquired company made a £300,000 pre-tax profit from a £1.5 million turnover.
