Providence Equity Partners completes acquisition of GLM
GDA Staff -- Gifts & Dec, September 30, 2011
George Little Management today announced the completion of its acquisition by Providence Equity Partners.
GLM's tradeshows include the New York International Gift Fair and ICFF.
Last month, the two companies entered into a merger agreement under which affiliates of Providence would acquire GLM from Daily Mail and General Trust PLC for approximately $173 million in cash.
Providence purchased GLM through a new holding company led by Charles G. McCurdy, who most recently served as CEO of Canon Communications, a producer of trade shows, publications, and digital and data services.
GLM creates face-to-face and online buying, selling and networking platforms for designers, product developers, manufacturers, reps, retailers and operators through tradeshow and event production, online community development and association management. GLM currently produces 15 tradeshows, serving industries as diverse as giftware, home furnishings, social stationery, home textiles, tabletop, gourmet housewares, contemporary furniture, personal care, art & design, antique jewelry, beach, board sports, fashion and hospitality. Annually, these events showcase approximately 11,000 exhibitors in 1.8 million net square feet of exhibit space, and attract approximately 150,000 attendees.
Providence Equity Partners is a global private equity firm specializing in equity investments in media, communications, information services and education companies around the world. The principals of Providence manage funds with over $23 billion in equity commitments and have invested in more than 100 companies operating in over 20 countries since the firm's inception in 1989. Providence is headquartered in Providence, R.I. and has offices in New York, London, Los Angeles, Hong Kong and New Delhi.
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