Private equity firm NVM has said it will back further acquisitions in the exhibitions and events industry for portfolio company CloserStill.

Peter Hodson, an investment manager at NVM, says CloserStill’s buy-and-build strategy has ‘got off to a strong start’ with the acquisitions of Pioneer Global Media last autumn and Principal Media this month.

He adds, ‘NVM looks forward to backing further CloserStill acquisitions.’

NVM invested £7 million in CloserStill last year to fund the purchase of ‘niche events businesses with strong management and attractive growth prospects’. The company is headed by the same management team as led Ithaca Business Media, an NVM management buy-out in 2005 that was sold in 2007 to United Business Media.

Pioneer Global Media is a West Midlands-based organiser of trade shows for pharmacists, dentists and vets, while Principal Media runs Learning Technologies and Learning and Skills 2010.