Thursday, 7 October 1999
Earls Court Exhibition Centre (home to the PLASA Show) and sister venue Olympia have been sold by the P&O Group to an acquisition vehicle backed by Candover and the Morris family for £183 million. Included in the sale are P&O Events, the organisers of PLASA, P&O Exhibition Services, which provides exhibition services to exhibitors and specialist catering business Beeton Rumford. The net consideration for the sale will be settled in cash, plus a £20 million loan note repayable over 10 years. Candover is a private equity company, whilst the Morris family owns City Industrial Limited which operates The Business Design Centre in Islington, London.