Exhibition organiser George Little Management (GLM), which organises US events including the National Stationery Show, International Contemporary Furniture Fair and the New York International Gift Fair, is to be sold by its British parent company The Daily Mail & General Trust (DMG).
Investment bank Jordan Edmiston will handle the sale, which is currently at the stage of second-round bids. GLM runs 15 tradeshows in total and its ongoing business activities are unlikely to be affected by the change of ownership, with no proposed changes to the management structure of the company. The business is estimated to be worth between $200 – $240 million.
DMG acquired an initial 25% stake in GLM for around $70 million in 2000, the increased its holding to 49% for a further $21 million at the start of 2007. The remainder of the shares were purchased for $155 million later that year. The company is expected to make $26 million in pre-tax profits in 2011.