Hyve sells Ukrainian business to management, will offer financial support

By

Sandra Halliday

Published
Jul 19, 2022

Tradeshows and events giant Hyve Group is selling its Ukrainian business to ProExpo (Europe) Limited in a management buyout led by Anatoly Sushon, the MD of the Ukrainian Business.

Hyve, which operates key shows around the world such as Pure London and Shoptalk, will receive up to £3 million via an earnout consideration that will be paid annually until September 2027 based on the profitability of the Ukrainian business. 

It said that “at a time when due to the ongoing conflict no events can be held, Hyve has agreed to support the Ukrainian business with funding of up to £1.2million to be repaid by September 2027, also dependent on future profitability”.

CEO Mark Shashoua said: “Premier Expo, our Ukrainian business, has been a valued part of Hyve for over 20 years. We care deeply about the employees and their families and have supported them through these challenging times. Both parties believe that by transitioning ownership to the experienced and committed local management team, the business will have the agility to recover for the future. We look forward to extending our support to Anatoly and his team through continued cooperation and our international network wherever we can.”