Organiser of global B2B events UBM has acquired Lambeth-based operator of Asian and Middle Eastern trade shows AllWorld Exhibitions for $485m.

The deal will see UBM secure access to Allworld’s presence across 11 countries including China, Singapore, South Korea, Thailand, Vietnam, Kuwait, Bahrain and more.

The addition of Allworld will grow out the UBM Asia business, which boasts 1,300 staff and a headquarters in Hong Kong. Family-owned Allworld covers various sectors, including food and hospitality, packaging, tech, media & telecommunications and manufacturing, fitting in well with the 20 industries covered by UBM.

Allworld’s near half a billion-dollar price tag comes after it achieved $97m revenue and $38m EBITDA for the year ending 30 June 2016.

“The acquisition of Allworld is wholly in line with our Events First strategy and represents an exceptional opportunity to accelerate growth by investing in a large high-quality events business,” said Tim Cobbold, CEO of UBM.

“In so doing, we cement our position as the leading events business in Asia and achieve the number one position in the fast-growing ASEAN region. We see excellent opportunities to accelerate organic growth in the business.

“Allworld’s management and employees bring tremendous experience and expertise to UBM and I look forward to working with them to realise the growth potential of the combined business.”

International M&A advisor BCMS, which specialises in the sale of private firms, acted as negotiator for the deal. According to MD Jonathan Dunn, Allworld is the best there is in its sector, which resulted in a great amount of interest.

Dunn said: “It has been one of the most competitive processes we have ever managed at BCMS, with interest from all over the world, including global private equity funds, sovereign wealth funds, major strategic acquirers and media conglomerates. Both our client and BCMS are delighted with the final outcome.”

“The dedication, commitment and M&A expertise of the team at BCMS has led to a fantastic outcome for our client. This success demonstrates the strength of the BCMS process,” added Greg Garland, director at BCMS.