Sat, 11 Jun 2011 | DIVISION SALE
GLM, the trade show management company, has been put up for sale by Daily Mail & General Trust for around £120 million.
DMGT has appointed investment bank Jordan Edmiston to review strategic alternatives to GLM, and has already sent out sale memorandums to potential buyers, thought to include private equity groups and trade players. Interested parties are thought to include Informa, UBM and Reed Elsevier.
GLM was founded by George F. Little, in 1924 and now manages 15 tradeshows, mainly across the United States. In all, the company showcases over 11,000 exhibitors, attracting around 350,000 attendees each year. Shows include Surf Expo, the International Contemporary Furniture Show, the National Stationery Show and the New York Antique Jewelry & Watch Show.
The company also organises face-to-face and online buying, selling and networking platforms for luxury goods manufacturers and retailers, including Valentino, Loro Piana and Hermès.
DMGT began investing into the trade show business from 2000 and bought the remaining 51 per cent in 2007 for $155m. However the business is now being regarded as non-core by the conglomerate, which is trading at a price-to-earnings ratio of 9.
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