MidOcean Partners announced it has signed a definitive agreement to sell Questex LLC to funds managed by Apollo Global Management Inc. (NYSE: APO), according to a press release statement.

Questex operates as an information services and event platform company serving the experience economy. The company connects buyers and sellers across hospitality, travel, wellness, life sciences, and technology industries through live events, digital media, and data-driven marketing services.

The company serves more than 6 million business professionals globally through its portfolio of in-person events, digital content, and data insights. Questex operates flagship events and media platforms across multiple industry verticals.

During MidOcean's ownership, Questex completed seven strategic acquisitions and expanded from purely in-person events to include virtual solutions. The private equity firm invested in the company's digital and data capabilities while optimizing its event portfolio.

"We are proud to have partnered with the Questex management team during a period of meaningful growth and strategic transformation," said Sara Badham, Managing Director at MidOcean. "Together, we more than doubled the Company's scale and growth rates and positioned the business for continued growth ahead."

Paul Miller, CEO of Questex, said the partnership with MidOcean provided strategic insight and support that accelerated the company's growth and evolution.

MidOcean referenced its previous experience with Penton, a former portfolio company that was sold to Informa PLC for $1.6 billion in November 2016. The firm applied similar expansion strategies to Questex's business model.

Gibson, Dunn & Crutcher LLP served as legal advisor to MidOcean for the transaction. Financial terms of the sale were not disclosed.