New York-based Convene announced the acquisition of London-based etc.venues on February 1, adding 16 new locations to its portfolio.
Before the deal, Convene had 22 meeting venues, including 12 in New York City, three in Chicago, two in both Philadelphia and Chicago, and one in San Francisco, Boston, and London.
etc.venues brings 450,000-square-feet of additional real estate under Convene’s management, spanning 13 locations in the U.K. (in London, Birmingham, and Manchester) and three in New York City. The company has hosted 300,000 events since it launched in 1992.
The etc.venues deal follows Convene’s merger with Hudson’s Bay Co. in 2022, which added SaksWorks locations to its portfolio.
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“The workplace of the future is a meeting space,” commented Ryan Simonetti, CEO and co-founder of Convene. “While individual work can be done anywhere, Convene provides purpose-built meeting and social event spaces with the tools and amenities aimed at inspiring collaboration that are needed for high-impact, team-based work.” Convene is known for providing one-stop production, catering, and audiovisual services, including for hybrid meetings.
Financers for the acquisition include Hudson's Bay Co., as well as Ares Management Corp., RXR, Revolution Capital, and Gencom, a real estate investment firm that bought a major stake in etc.venues four years ago. Gencom’s portfolio is focused on luxury hotels and resorts around the world, such as Fairmont Southampton, Bermuda; the Ritz-Carlton Coconut Grove, Miami; and Four Seasons Papagayo, Costa Rica.
