DMGT has sold George Little Management (GLM) to Providence Equity Partners. Providence is acquiring GLM through a new holding company led by Charles G. McCurdy, who most recently served as Chief Executive Officer of Canon Communications, a leading producer of trade shows, publications, and digital and data services.
The total consideration was US$173 million(£111 million) of which $154 million (£99 million) was cash with the balance being an interest-bearing note. In addition, DMGT benefit from selling the business with negative $7 million (£4 million) in working capital.
GLM was founded by George F. Little, in 1924, and acquired by dmgt in 2007, and is part of the dmg:events portfolio. The company is forecast to turnover $71 million and make $26 million of pre-tax profits. GLM employs some 100 people, with offices in White Plains, NY, Atlanta, GA and Naples, FL.
GLM currently produces 15 tradeshows. Alltogether, these events have around 11,000 exhibitors in 1.8 million net square feet of exhibit space, and attract approximately 345,000 attendees.
USA, Providence, RI & White Plains, NY & UK, London
Related Providence Equity Partners articles:
- Sir Run Run Shaw sells control of Hong Kong’s TVB Posted on January 27, 2011
- Cox Enterprises sells 25% of AutoTrader.com to Providence Equity Partners Posted on May 5, 2010
- Baidu’s online video company to receive $50M investment from Providence Equity Partners Posted on February 26, 2010
Related DMGT articles:
- DMGT trading update September 2011 Posted on September 28, 2011
- DMGT to sell GLM, the United States’ largest privately-held tradeshow management company Posted on June 10, 2011
- DMGT in “informal” talks to buy Express Newspapers Posted on April 4, 2011
- Could DMGT sell Northcliffe? Posted on November 28, 2010
- DMGT back on the acquisition trail? Posted on November 25, 2010
- Associated Northcliffe Digital acquires 50% of Globrix Posted on January 24, 2010
- Associated Northcliffe Digital buys Dothomes.co.uk and Extate.co.uk Posted on February 1, 2010
- Associated Northcliffe Digital acquires 50% of Globrix Posted on January 24, 2010
- Euromoney Institutional Investor to acquire Ned Davis Research Group for £69M Posted on June 21, 2011
- Euromoney Institutional Investor PLC acquires Arete Consulting Posted on August 13, 2010
- Euromoney sells EIC to Broadfern September 2007
Fusion Corporate Partners 
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