International Market Centers has completed its merger-acquisition of AmericasMart Atlanta.
The deal between the two business-to-business showroom operations creates the world’s largest permanent mart organizations serving the furniture, gift, home décor, rug and apparel industries, IMC maintained.
The combined corporate entity will operate under the name International Market Centers. With the merger, IMC now owns and operates almost 20 million square feet of permanent showroom space in Las Vegas, High Point, NC, and Atlanta, the company said. The individual markets conducted in those sites and their respective venues will continue to operate under their existing names and branding.
“With this transaction complete, we have begun the process of bringing together best practices, technology, and personnel from both organizations,” said Robert Maricich, IMC CEO. “Between now and year-end, we will diligently be working on the strategic blueprint for the next phase of our shared growth and value creation.”
IMC has contracted with consultancy Bain & Co. to help it work through the integration and blueprint process.
Blackstone Real Estate Partners and Blackstone Tactical Opportunities acquired IMC in 2017 with partner Fireside Investments.
In addition to the Atlanta investment, IMC recently announced plans to build a new 300,000 square foot trade show and exposition center on its World Market Center campus in Las Vegas. It also is building a new 20,000 square foot showroom building in downtown High Point, acquired an existing showroom building in the city and launched a new digital platform to support its existing market business and drive year-round lead generation for customers.
“We are excited to be part of the next stage of growth for IMC and AmericasMart,” said Tyler Henritze, senior managing director and head of U.S. real estate acquisitions at Blackstone. “This investment further demonstrates our long-term commitment to IMC’s B2B business platform for the home, gift and now apparel industries.”