A Scottsdale-based luxury travel and events company has appointed new leadership and rebranded after selling a key segment of its business.
Viad Corp. on Dec. 31 sold its GES exhibition services and experiential marketing business for $535 million to Los Angeles-based private equity firm Trulink Capital, according to a regulatory filing.
Trulink Capital agreed to a $510 million payment upon closing the transaction and a separate $25 million payment, which is due in a year. Viad Corp. used cash proceeds from the transaction to retire its 2021 credit facility and plans to allocate the remainder toward accelerating the company’s growth. Viad Corp. entered into an agreement in October with Trulink Capital to sell its GES business.
Following the deal, Viad Corp. rebranded as Pursuit Attractions and Hospitality Inc. and is now operating as a standalone, publicly traded attractions and hospitality company, which began trading Jan. 2 on the New York Stock Exchange under the new ticker symbol, “PRSU.”
