By JBizNews Desk
May 11, 2026
Private equity giant Apollo Global Management is making another major bet on the long-term strength of live business events and experiential commerce, announcing plans Monday to combine Emerald Holding and Questex into one of the largest business-to-business events platforms in North America.
The transaction, valued at approximately $1.5 billion, reflects growing investor confidence that in-person trade shows, conferences, and industry gatherings remain economically powerful even as companies increasingly build year-round digital ecosystems around them.
According to announcements released Monday through GlobeNewswire and filings with the U.S. Securities and Exchange Commission, Apollo-managed funds have entered into separate definitive agreements to acquire publicly traded Emerald Holding, Inc. (NYSE: EEX) and privately held Questex, LLC in an all-cash transaction.
Under the agreement, Emerald shareholders will receive $5.03 per share in cash, representing a premium of approximately 42.1% over the company’s recent trading levels.
Onex Partners, which controls more than 90% of Emerald’s equity, has already agreed to support the deal.
Once combined, the businesses are expected to operate roughly 160 events annually spanning industries including technology, hospitality, healthcare, retail, consumer products, and industrial sectors.
The merger would pair Emerald’s large-scale trade exhibitions with Questex’s year-round digital engagement infrastructure — a model Wall Street increasingly views as one of the most valuable shifts occurring inside the events industry.
Unlike traditional trade-show operators that primarily generate revenue during a few days each year at physical conventions, Questex has built what executives describe as a “365-day engagement model.”
That means the company continuously monetizes professional audiences long after conferences end.
Questex operates industry media websites, newsletters, webinars, virtual conferences, data products, digital advertising platforms, and online networking systems that keep buyers, executives, vendors, and sponsors connected year-round.
For example, a hospitality or healthcare conference attendee may continue receiving industry intelligence reports, sponsored content, webinars, product recommendations, and networking opportunities throughout the year — generating recurring subscription, advertising, sponsorship, and lead-generation revenue far beyond the physical trade-show floor itself.
That digital infrastructure also creates something increasingly valuable in modern business media: proprietary professional audience data.
By tracking attendee interests, industry trends, buyer behavior, and sponsor engagement continuously, platforms like Questex can offer companies more targeted advertising, marketing, and customer acquisition tools than traditional event operators historically could.
Apollo appears to view that combination — physical events plus recurring digital engagement — as especially attractive in an uncertain economic environment because it produces more diversified and stable cash flow streams.
Emerald Chief Executive Officer Hervé Sedky described the transaction as an opportunity to accelerate growth through expanded resources and long-term strategic capital.
“This transaction provides the enhanced resources, strategic support, and long-term capital to accelerate our growth and deliver lasting value for our customers, employees, and stakeholders,” Sedky said in the announcement.
Questex Chief Executive Officer Paul Miller called the combination “a compelling opportunity to drive growth through innovation, digital integration, and strategic initiatives,” specifically highlighting Questex’s ability to maintain continuous engagement with audiences and sponsors throughout the year rather than only during event periods.
The deal underscores how aggressively private equity firms continue pursuing businesses tied to professional networking, industry communities, and experiential commerce despite broader economic uncertainty tied to inflation, elevated interest rates, and slowing discretionary spending.
The B2B events sector has staged a sharp recovery from pandemic-era disruptions as companies increasingly prioritize face-to-face engagement for product launches, lead generation, customer acquisition, and business development.
Trade shows and conferences, once viewed as vulnerable to permanent digital replacement following the pandemic, have instead demonstrated significant resilience.
Industry operators have reported rising attendance levels, strong exhibitor demand, and growing corporate marketing budgets directed toward experiential events.
For Apollo, the acquisition fits squarely within its broader strategy of building scaled platforms across fragmented service industries where consolidation can create operating leverage, pricing power, and recurring revenue.
The combined Emerald-Questex business would give Apollo significant exposure across industries where live gatherings continue functioning as essential marketplaces for partnerships, deals, recruiting, education, and product discovery.
Emerald already operates some of the largest and most recognizable trade exhibitions in the United States, while Questex’s digital-media infrastructure adds a second layer of monetization that extends far beyond physical convention centers.
The broader economics remain attractive for investors.
Large B2B conferences and trade shows often generate high-margin revenue through exhibitor fees, sponsorships, ticket sales, premium content access, hospitality partnerships, and advertising.
Adding year-round digital engagement deepens customer relationships while reducing reliance on a limited annual event calendar.
Financial advisors on the transaction include BofA Securities and Centerview Partners, which are advising Emerald.
The deal is expected to close during the second half of 2026, subject to shareholder approval and customary regulatory clearances.
If completed, the merger would create one of North America’s largest integrated business-events and professional-media platforms — and further reinforce Wall Street’s growing belief that even in an increasingly digital economy, bringing industries together physically still generates enormous value, especially when paired with continuous digital engagement the other 360 days of the year.
— JBizNews Desk
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