GLM Acquired by Emerald Expositions
WHITE PLAINS, N.Y.-Emerald Expositions has purchased George Little Management from Providence Equity Partners for $335 million.
The transaction is expected to close next month, subject to customary regulatory approvals. The acquisition will be funded with approximately $200 million of debt and a $140 million equity investment from Onex Partners III.
GLM operates more than 20 tradeshows, including NY Now, formerly called the New York International Gift Fair, and the International Contemporary Furniture Fair. GLM has approximately 130 employees and operates out of six U.S. offices.
"GLM is a truly outstanding tradeshow company with an exciting portfolio and an experienced and talented workforce," said David Loechner, CEO of Emerald. "This acquisition expands upon our position as a leading tradeshow organizer in the United States. I am excited about the opportunities for customers and employees of both companies that will result from bringing these two high-quality portfolios together."
Charles McCurdy, CEO of GLM, added, "This transaction demonstrates the strength of GLM's shows that have grown successfully thanks to the effectiveness of the GLM team and Providence's support. This is a compelling opportunity going forward for GLM and its stakeholders, and I wish David Loechner and his team the best of luck as they seek to further expand GLM's product offerings and accelerate growth."
Providence Equity Partners purchased GLM in 2011. Emerald was acquired by Onex Partners III earlier this year.