USA-based hospitality company Convene acquired etc.venues, a UK-based established leader in urban day conferencing. The company announced the acquisition on February 1, 2023. However, it did not disclose the amount of the transaction.
Purpose of acquisition by Convene
With the latest acquisition of etc.venues, Convene adds 16 new venues to its portfolio. It now has become the largest single provider of dedicated premium meeting and event venues in the U.S. and UK.
What the Convene official has to say
Ryan Simonetti, CEO and co-founder of Convene, said, “The London and New York City markets continue to rebound at a tremendous pace post-COVID. The demand for outsourced premium meeting and event solutions is accelerating from clients and landlords alike. The talented team at etc.venues has built an incredible business across the UK and New York for over 30 years. The acquisition of an organization with such an unwavering commitment to delivering high-quality meeting and event experiences allows Convene to expand our ability to serve our clients in more places and exciting new ways.”
He further continued, “The workplace of the future is a meeting space. While individual work can be done anywhere, Convene provides purpose-built meeting and social event spaces with the tools and amenities aimed at inspiring collaboration that is needed for high-impact, team-based work. We are proud to further this offering with the addition of etc.venues to our global network.”
In addition, Richard Baker, governor, CEO, and executive chairman of Hudson’s Bay Company, Convene’s majority shareholder and chairman, said, “Convene and etc.venues are two distinct and established leaders in the meetings and events industry, bringing them together creates an unparalleled global offering. We are pleased to offer nearly 40 venues across the joint portfolio. We are confident this newly-combined organization will benefit clients, landlords, and shareholders alike, especially as we set our sights on further international expansion opportunities.”
What the etc.venues official has to say
Alastair Stewart of etc.venues further added, “etc.venues is the largest urban day-conference venue provider in the UK with an incredible client base comprising a number of Fortune 500 companies. As we set our sights on expansion into the U.S., we realized the natural synergy and alignment with Convene and are really looking forward to what’s next as our two world-class firms join forces.”
About the company
In 2009, Founders Chris Kelly and Ryan Simonetti launched the company. Convene has a network of 38 locations across nine cities in the U.S. and UK. The company integrates beautiful yet intuitive design, fully-integrated technology services, and a warm and welcoming environment to create a turnkey solution for an extraordinary meeting and work experiences.
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