Mach Conferences And Events Limited To Acquire Majority Stake In Travexel Events And Travel Private Limited, Expanding Into Medical Conferences
PRNewswire
New Delhi [India], May 27: Mach Conferences & Events Limited (BSE: MCEL.BO) (BSE: 544248), a leading provider of comprehensive MICE (Meetings, Incentives, Conferences, Exhibitions) and Events solutions, announced it has entered into a definitive agreement to acquire majority shareholding in Travexel Events and Travel Private Limited (Travexel). Travexel is a prominent professional conference organizer with a specialized focus on medical conferences and comprehensive travel solutions for delegates.
With this acquisition*, Mach will significantly enhance its end-to-end service capabilities, adding a crucial medical conference segment that will 'fast-track' its growth in the specialized events and travel sector. This acquisition* is a strategic decision that aligns with Mach's continued diversification plans of developing a comprehensive event and travel ecosystem. One key advantage of the medical conference segment is the long-term planning and predictability it offers, as such events are often confirmed years in advance. This contrasts with Mach's current business model, where event confirmations typically occur 3-4 months before execution. Post-investment by Mach, Travexel will continue to run and operate as an independent entity. Travexel currently has an order book of approximately Rs20 crores in this financial year, highlighting its strong foothold in the medical conference segment.
Maniish Mishra, Promoter of Travexel, said, "Joining the Mach family will not only support our organic growth within the medical conference and event management industry but also open up a wealth of opportunities related to comprehensive event and travel services." Mishra brings over 25 years of rich experience, having worked with TUI, Cox & Kings, and Thomas Cook. He has successfully executed more than 1,200 events, including most of the leading medical conferences, showcasing his expertise and leadership in the field.
Speaking on the agreement, Amit Bhatia, MD of Mach, said, "Travexel brings highly specialized expertise in medical conferences and robust event management capabilities. This synergy presents significant cross-selling opportunities, allowing us to offer a more holistic suite of services to both our existing and future clients."
*acquisition refers to the definitive agreement for Mach Conferences & Events Limited to invest in Travexel Events and Travel Private Limited and become the majority shareholder as detailed in this press release.
About Mach Conferences and Events Limited:
A pioneer in the MICE industry, MACH Conferences and Events has set a high standard in successfully arranging, coordinating and carrying out formal Meetings, Incentives, Conferences and Events across the globe. The Company has more than 20 years of experience with certifications from eminent bodies like IATA, ADTOI, IATO, and PATA.
Having conducted over 300+ large and medium-sized events in the previous 3 years involving over 30 of the most elite brands, it takes pride in claiming to be among the supreme performers in the MICE industry. Not only in the Indian subcontinent, but our wings span across multiple countries. The company has a top-notch set of experts with varied expertise apart from being blessed with an in-depth and updated knowledge of the MICE Industry. As a result, they know this sector inside out, better than the rest.
About Travexel Events and Travel Private Limited:
Travexel Events and Travel Private Limited, incorporated in March 2023, is an upcoming professional conference organizer based in Delhi & NCR promoted by experienced and seasoned event organizers. The company distinguishes itself with a specialized focus on medical-related events and conferences. Travexel offers comprehensive event management services, including meticulous conference and meeting planning, exhibition management, and efficient travel logistics for delegates.
For further information, please contact:
Mach Conferences and Events Ltd.
Ms. Yashashvi Srivastava (Company Secretary)
Email: compliance@machconferences.com
Website: https://www.machconferences.com/
Adfactors PR Pvt. Ltd.
Samruddhi Bane - Email ID: samruddhi.bane@adfactorspr.com
Adtiya Tikare - Email ID: aditya.tikare@adfactorspr.com
Safe Harbour
This release contains statements that contain "forward looking statements" including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Mach Conferences' future business developments and economic performance. While these forward-looking statements indicate our assessment and future expectations concerning the development of our business, several risks, uncertainties and other unknown factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, general market, macro-economic, governmental and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with us, legislative developments, and other key factors that could affect our business and financial performance. Mach Conferences undertakes no obligation to publicly revise any forward-looking statements to reflect future / likely events or circumstances.
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