Penton Marks Evolution to an Information Services Business, Rolls Out New Branding to Reflect Transformation. Events Key Revenue Stream, Followed Closely by Digital and Marketing Services, Collectively Seeing Double Digit Growth
David Kieselstein, CEO of Penton, announced at the Business Information Management Summit (c-level event for business information ecosystem), the launch of the Company’s new branding and website (penton.com), which marks the evolution of Penton into an information services business.
“Events are now our largest revenue stream and growing at near double digits. Our digital and marketing services business is close behind in size, and is growing even faster, well into the double digits. Few people realize that these are now our two largest revenue streams. Our mix of revenues has shifted dramatically over the past three years, and the vast majority of the company’s over $360 million in 2014 revenues now come from these fast growing lines of business. Penton has evolved into a new company and our new branding and website perfectly reflect that evolution,” said Kieselstein. “We have driven the change with a balanced, three pronged approach of new products, continuous improvement of the existing portfolio and via strategic acquisitions.”
By leveraging its market leading brands, such as Farm Progress, Aviation Week, Industry Week and Natural Products Expo, Penton has developed partnerships with its clients that allow them to delve much deeper into the marketing funnel through the use of data products built around events and marketing services. Penton’s marketing services business is growing over 20% annually. A key to this success is the company’s unique ability to deliver both scale and vertical specific relevance to marketers’ plans. Penton’s relationship with over 16 million professional users and over one million CEO’s, has enabled it to establish over 40 scaled strategic partnerships with Fortune 100 clients.
“We are now a vastly different business made up of events, data, technology and highly engaging content, which is leading to higher margins and growth for our company,” continued Kieselstein. “Our new capabilities are reflected in our brand, which emphasizes what we do, how we do it and why we do it for our clients. Inform. Engage. Advance. These are not only powerful words to the business world but a promise on what we can deliver and how we can impact a company’s return on investment.”
Kieselstein added, “In 2015 we will be launching many new products, including several new events. By the same token, we remain acquisitive and continue to look for new events, data and digital businesses that complement our portfolio and bring our capabilities to scale.”
Every day, 16 million business professionals rely on us to deliver insights, information and workflow tools to inform critical business decisions. They look to us to deliver networking and community to engage them with industry peers and partners. We assist users to connect with valued suppliers through marketing solutions that advance their business performance and deliver superior return on investment.
Penton is a growth company with a track-record of strong performance and is backed by its co-owners: MidOcean Partners and U.S. Equity Partners II, an investment fund sponsored by Wasserstein & Co., LP.
For additional information on the company and its businesses, visit www.penton.com.