April 10 (Reuters) – Blackstone-backed event management company Encore revealed higher annual revenue in its paperwork for a U.S. initial public offering on Friday.
The Schiller Park, Illinois-based company reported net loss of $27.2 million on revenue of $3.4 billion for the fiscal year ended December 31, compared with net loss of $176.1 million on revenue of $3.2 billion a year earlier.
The U.S. IPO market has been accessible despite the ongoing Middle East conflict, with some issuers in recent weeks braving volatility to push ahead with their listings.
Encore is a live-event services company that provides event technology, production as well as exhibit and trade show support for business meetings, conferences and other corporate gatherings.
The company estimates the event production services total addressable market to grow 6% to 8% annually through 2030.
Hotel-based corporate events form Encore’s largest business segment, with around 95% of U.S. revenue generated from multi-year contracts at roughly 2,200 venues worldwide.
In 2025, the company acquired UK-based event production firm Eclipse and FIRST, a global provider of embedded event solutions for corporate campuses, expanding its in-house capabilities.
It intends to use the proceeds from this offering to repay debt and for general corporate purposes.
BofA Securities, Goldman Sachs, Morgan Stanley, Evercore, J.P. Morgan, Jefferies, RBC Capital Markets and UBS Investment Bank are among the underwriters for the offering.
Encore will list its shares on the New York Stock Exchange under the symbol “ECR.”
(Reporting by Christy Santhosh and Pragyan Kalita in Bengaluru; Editing by Shreya Biswas)
Comments