Portland-based trade show and media company Diversified acquired Marine Money, a brand for ship finance events and publications.
Diviersfied acquired the brand from Stamford, Conn.-based International Marketing Strategies Inc. Terms of the deal were not disclosed.
Sullivan & Worcester LLP in Boston was Diversified’s legal counsel. Marine Money worked with London-based broker Fusion Corporate Partners and financial advisor White Fir Global Inc.
Global shipping
Diversified is a business-to-business events and media company with a global presence. Its commercial marine portfolio includes the International Workboat Show, Pacific Marine Expo, National Fisherman and Workboat Magazine.
Founded in 1987, Marine Money is a brand for ship finance events and publications designed to support networking and business development opportunities for C-suite attendees in the global shipping finance industry.
As an organizer of events around the globe and producer of newsletters, research and industry reports, Marine Money complements Diversified’s commercial marine portfolio of events and publications serving the marine industry, including the International Workboat Show, Pacific Marine Expo, National Fisherman and Workboat Magazine.
Diversified retained Marine Money’s team, including owners Matt McCleery and Mike McCleery.
Long acquaintance
For Marine Money’s part, the acquisition process began a few years ago, when its leaders began thinking about a partner to support growth and modernization, according to a separate news release.
“Our goal has always been to better serve our ship finance community through enhanced digital technology, expanded event platforms and formats, and new opportunities for engagement across the global maritime finance sector — including training, content, data, networking and growth, both organic and through acquisitions,” the release said.
The Marine Money and the Diversified teams have known each other for many years through Diversified’s ownership of the International WorkBoat Show.
Scale, infrastructure
“Beyond their scale and infrastructure, Diversified’s family-owned culture and client-first approach make them a natural fit for Marine Money,” the release said.
The acquisition represents a step forward in expanding and deepening the commercial marine portfolio, said Diversified’s Wes Doane, the group’s vice president.
The plan is to invest in the brand, he added.
Matt McCleery said Diversified’s in-house resources will help advance Marine Money’s client services, digital technology, training, content, data and networking.
Established in 1949, Diversified is a third-generation, family-owned business with divisions and offices in Australia, Canada, Hong Kong, and the United Kingdom.
Last fall, the company moved its headquarters from 121 Free St. to 2 Portland Square in the Old Port neighborhood.
