Tulsa’s PennWell Corp. sold to London-based Clarion Events
Tulsa World
TULSA — PennWell Corp. has been bought by Clarion Events.
PennWell, a privately held events and business-to-business media and marketing services company based in Tulsa, employs 550 and organizes and manages more than 40 exhibitions and conferences around the world.
The company also has 130 media properties and provides content and integrated marketing solutions for energy, fire and emergency services and dental industries, as well as industrial technology.
“We have been a family-owned business since my great-grandfather founded the company 108 years ago, originally to serve the oil and gas industry,” PennWell Vice Chairman Frank T. Lauinger said in a statement issued Tuesday. “Finding the right partner going forward was paramount for our family and for our employees, and we are confident Clarion shares our values and will continue the legacy of PennWell across all markets PennWell now serves.”
Clarion Events operates over 180 events in 50 countries from 15 offices in the United Kingdom, the U.S., South Africa, Brazil, Germany, Singapore, United Arab Emirates, Indonesia, Hong Kong and the Netherlands.
The London-based company is owned by funds managed by Blackstone, one of the world’s largest investment firms.
“Clarion is committed to building a strong and competitive presence in North America. The acquisition of PennWell reflects not only the quality of their portfolio, but also our companies’ shared legacy of creating innovative events that demonstrate our continued leadership in this industry,” said Clarion UX CEO Greg Topalian.
The sale comes months after the death of Robert Biolchini, a Tulsa attorney and former president and CEO of PennWell Corp., who served as the face of the company for more than 15 years.