Searchlight Capital Partners takes co-control of B2B events firm CloserStill Media
What's the deal? Searchlight Capital Partners has invested in CloserStill Media, a leading B2B events platform. The deal gives Searchlight co-control of the business alongside Providence, which has owned CloserStill since 2018. Providence will have the opportunity to reinvest in the company to support its next growth phase.
The transaction is subject to customary regulatory approvals. Latham & Watkins advised Searchlight on the deal, with a team led by London partner Kem Ihenacho.
Why now? The B2B events industry has rebounded strongly since the pandemic, with in-person conferences and trade shows seeing renewed demand. Providence's seven-year ownership suggests the firm is ready to bring in a partner to fund CloserStill's next chapter — while retaining a stake in the business's upside.
The signal: The deal reflects continued private equity appetite for events businesses, which generate recurring revenue and benefit from strong network effects. Co-control structures like this one — where an incoming investor shares governance with an existing owner — are increasingly common in PE, allowing firms to pool resources and share risk on larger platform investments.
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