I'm not aware of a method to do this without using a macro, although there might be one. a VBA solution would be something like:
Sub macro_1()
Dim rng, first_rng, search_term, ws
search_term = "example search text" 'change as appropriate
For Each ws In ActiveWorkbook.Sheets
Set rng = ws.Cells.Find(search_term)
Set first_rng = rng
Do
rng.Characters(InStr(1, rng, search_term), Len(search_term)).Font.Italic = True
Set rng = ActiveSheet.Cells.FindNext(rng)
Loop Until first_rng.Address = rng.Address
Next
End Sub
You need to press alt+f11 to bring up the vba editor and then copy and paste the code into a new module and run it (F5).
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