Monday December 23rd, 2013 - 8:59AM
Emerald Expositions, Inc. has agreed to acquire George Little Management LLC from Providence Equity Partners for $335 million.
GLM, based in White Plains, NY, operates more than 20 trade shows, including NY Now (formerly the New York International Gift Fair), Surtex and the International Contemporary Furniture Fair.
Emerald, based in San Juan Capistrano, CA, produces more than 65 trade shows and conference events a year for such markets as general merchandise, sports, hospitality and retail design, jewelry, photography, decorated apparel, building, healthcare and military.
David Loechner, CEO of Emerald, said, "GLM is a truly outstanding tradeshow company with an exciting portfolio and an experienced and talented workforce. 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, said, "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."
Michael Dominguez, a managing director at Providence, said, "Charlie's leadership and the dedication of the entire management team were integral to the success of this investment. We're fortunate to have had the opportunity to partner with GLM to accelerate growth, launch new products and make acquisitions that increased the breadth of its shows."
The transaction is anticipated to close in January 2014. The acquisition will be funded with approximately $200 million of debt and a $140 million equity investment from Onex Partners III. Emerald was acquired by Onex Partners III in June 2013.