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ITE buys Russian event
A London-based company that specialises in organising exhibitions in emerging and developing markets has added a construction event in Russia to its portfolio.
ITE Group has bought 75 per cent of Primexpo from the Restec Group for an undisclosed sum. The terms of the deal include the group having the right to acquire the remaining 25 per cent of the company.
Primexpo organises the Interstroyexpo construction exhibition in St Petersburg, which is staged every April. The acquisition strengthens ITE’s core activities in Russia and the CIS.
ITE chief executive Russell Taylor said the deal adds another construction event in the city to its portfolio as it already organises an exhibition there later in the year.
“ITE’s autumn construction event, Balticbuild, has been competing with this event in St Petersburg for more than ten years,” he added. “Holding both events in the same portfolio will enable the group to re-organise them alongside each other, significantly strengthening ITE’s position in St Petersburg’s construction sector.”
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