Providence Equity to acquire show producer GLM
August 23, 2011,
White Plains, N.Y. - George Little Management - organizer of the New York International Gift Fair, the International Hotel, Motel + Restaurant Show and the International Contemporary Furniture Fair, among others - is being acquired by Providence Equity Partners for $173 million in cash.
The seller is Daily Mail and General Trust plc, which first took a stake in the trade show organization in 2000 and bought out the remaining shares in 2007.
Alan Steel, president of GLM, said, "This is a compelling transaction that will allow GLM to benefit from the additional resources and expertise provided by Providence as we seek to further expand our product offerings and accelerate growth."
The transaction is expected to close by the end of next month.