International Market Centers and AmericasMart Transaction is finalized (“IMC”. The completion of the acquisition of AmericasMart Atlanta is announced June 20th. The merger of the two best-in-class B2B showroom operators creates the world’s largest permanent mart for the furniture, gift, home décor, rug, and apparel industries. Financial terms of the transaction were not disclosed.
The combined corporate entity, which will operate under the name “International Market Centers,” now owns and operates nearly 20 million square feet of permanent showroom space in Las Vegas (NV), High Point (NC), and Atlanta (GA). The individual Markets and their respective venues will continue to operate under their existing names and branding.
“With this transaction complete, we have begun the process of bringing together best practices, technology, and personnel from both organizations,” said Robert Maricich, Chief Executive Officer of International Market Centers. “Between now and year-end, we will diligently be working on the strategic blueprint for the next phase of our shared growth and value creation.” IMC has contracted with leading consultancy, Bain & Company to work through the integration and blueprint process.
Blackstone Real Estate Partners and Blackstone Tactical Opportunities (Blackstone; NYSE: BX) acquired International Market Centers in 2017 in partnership with Fireside Investments.
“We are excited to be part of the next stage of growth for IMC and AmericasMart,” said Tyler Henritze, Senior Managing Director and Head of US Real Estate Acquisitions at Blackstone. “This investment further demonstrates our long-term commitment to IMC’s B2B business platform for the home, gift and now apparel industries.”
In addition to this most recent investment, IMC recently announced plans to construct a new 300,000 sf tradeshow and EXPO center on its World Market Center campus in Las Vegas, built a new 20,000 sq. ft. showroom building in downtown High Point, acquired an existing showroom building in High Point, and launched a new digital platform to support its existing market business and drive year-round lead generation for its customers.
“Our goal at IMC has always been to provide the most efficient, effective and compelling business platforms to bring buyers and sellers together,” Maricich said. “In every industry we serve, the IMC team is dedicated to creating value and growth opportunities for our partners through world-class customer service, amenities and technology advancements, and we remain steadfast to that goal.”
ABOUT INTERNATIONAL MARKET CENTERS
IMC, which Blackstone and Fireside Investments acquired in 2017, is the world’s largest owner and operator of premier showroom space for the furnishings, home decor and gift industries, with 12.2 million square feet of world-class exhibition space in High Point, NC and Las Vegas, NV catering to over 4,000 exhibitors and lines. The Company’s mission is to build and operate an innovative, sustainable, profitable and scalable platform for the furnishings, home decor and gift industries. For more information please visit www.imcenters.com.
AmericasMart Atlanta is the world’s single-largest collection of home, gift, area rug and apparel merchandise. The largest of AmericasMart’s 17 annual Markets and shows are The Atlanta International Gift & Home Furnishings Market and The Atlanta International Area Rug Market in January and July with buyers from every U.S. state and as many as 80 countries discovering product from more than 4,500 exhibitors, including 1,500 showrooms and more than 3,000 temporary exhibiting companies.
Located in downtown Atlanta, the AmericasMart complex contains more than 7.1 million square feet of space. It’s a huge global stage on which manufacturers, designers and sales representatives unveil new lines, launch new designs and introduce new categories – all for the benefit of buyers seeking all that is fresh and first in the home, rug, gift and apparel arenas. For more information, please visit www.AmericasMart.com.
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with $440 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
ABOUT FIRESIDE INVESTMENTS
Fireside Investments is a private investment firm focused on making growth capital investments in durational real estate and related businesses alongside leading management teams and investment partners. Fireside’s founder and Managing Member, Jonathan Langer, was involved in the original formation of IMC.