ExpoNet has today announced its return as a fully family-owned and operated company, with the departure of ANZ Private Equity as a major shareholder.
Company founders, Managing Director Jim Delahunty and Director Greg Chambers have bought back ANZ Private Equity’s share of the company following a successful acquisition and expansion program.
ANZ Private Equity came on board as an equity partner and shareholder in 2008, providing financial backing for ExpoNet’s acquisition of the AE Group, Onsite Power & Light and Expo Hire.
With the success of the expansion and subsequent integration process, Delahunty said he and Chambers had welcomed the opportunity to buy back the majority share of the company.
“The wide corporate insight and disciplines introduced by ANZ Private Equity have helped us achieve our expansion and integration goals quicker than anticipated,” said Delahunty.
“We’ve successfully integrated a group of companies, positioning ExpoNet as the largest conference and exhibition industry supplier in Australia, and we look forward to further building on this success as a fully family-owned company.”
Founded by Delahunty and Chambers in 1980, ExpoNet has grown to comprise a network of offices in Sydney, Brisbane/Gold Coast and Melbourne and service over 400 events per year in more than 100 venues.
Delahunty said today’s announcement represented a renewed commitment from the Delahunty and Chambers families to the exhibition and events industry.
“Greg and I have more than 60 years combined experience in exhibition and events and our commitment to this industry is now stronger than ever. Our management team is also highly experienced and dedicated to ensuring the future success of our company,” he said.
“We have plans to invest in new products and services to enhance our company and the industry and we’re excited about entering a new era for ExpoNet.”