Emerald Expositions Acquires George Little Management for $335 Million
December 19, 2013
Emerald Expositions acquired George Little Management from Providence Equity Partners for $335 million.
The deal is subject to certain adjustments at and after closing.
"GLM is a truly outstanding tradeshow company with an exciting portfolio and an experienced and talented workforce,” said David Loechner, Emerald’s CEO.
He added, “This acquisition expands upon our position as a leading trade show 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."
GLM has more than 20 trade shows, including some of the largest shows in the United States, such as NY Now, which is at Nos. 29 and 30 for its biennial editions on the 2012 TSNN Top 250 Trade Show list.
GLM's trade shows serve industries as diverse as home furnishings, home textiles, stationery and paper products, giftware, tabletop, gourmet housewares, contemporary furniture and interiors, personal care, art & design, antiques & jewelry, fashion, board sports & resort lifestyle and e-commerce.
"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,” said Charles McCurdy, GLM’s CEO.
He added, “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."
GLM has approximately 130 employees and operates out of six U.S. offices.
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. We believe GLM has a bright future as part of Emerald Expositions."
The transaction is expected to close in January 2014, 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.
Nielsen Holdings N.V.’s sale of Nielsen Expositions to private equity firm ONEX for $950 million was completed in June.
Under the new owner, Nielsen Expositions’ name was changed to Emerald Expositions.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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