TRADE SHOW ACQUISTION
Surf Expo Parent Company Acquired by Outdoor Retailer Organizer
George Little Management LLC, parent company of trade show Surf Expo, has been acquired by Emerald Expositions Inc., organizers of the Outdoor Retailer trade show.
San Juan Capistrano, Calif.–based Emerald purchased GLM from Providence Equity Partners for $335 million.
Emerald operates more than 65 trade shows, including Outdoor Retailer, held biannually in Salt Lake City; GlobalShop, held annually in Las Vegas; and the Imprinted Sportswear Show (ISS), the decorated apparel show held in Long Beach, Calif.; Atlantic City, N.J.; Orlando, Fla.; Nashville, Tenn.; Las Vegas; and Fort Worth, Texas. Emerald Expositions was created earlier this year when Onex Corp. purchased Nielsen Expositions.
Based in White Plains, N.Y., GLM produces more than 25 trade shows, including Surf Expo, held biannually in Orlando, and the Internet Retailer Conference & Exposition (IRCE), held annually in Chicago.
“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,” said Michael Dominguez, a managing director at Providence, in a company statement. “We believe GLM has a bright future as part of Emerald Expositions.”
David Loechner, chief executive officer of Emerald, was bullish on the addition of GLM shows to the company’s holding. “GLM is a truly outstanding trade show company with an exciting portfolio and an experienced and talented workforce,” he said in a statement. “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.
” The deal, which is funded by about $200 million of debt and $140 million equity investment from Onex, is expected to close in January. The news unites two trade shows with occasionally overlapping exhibitors. After Nielsen’s Action Sports Retailer Trade Expo shuttered in 2010 after 29 years in business, several trade shows scrambled to pick up ASR’s surf and skate business. Many surf brands were already exhibiting at Surf Expo, and a handful participated at Outdoor Retailer’s summer show. MAGIC has also made moves to court skate exhibitors with its former S.L.A.T.E. show and its current MVMNT shows. Agenda, which got its start showcasing skate and streetwear brands as a satellite show to ASR, has grown to dominate both categories. Several surf companies and companies with roots in surf, such as RVCA, currently exhibit at Agenda’s show in Long Beach. At the February run of Agenda in Las Vegas, the show will debut a new surf section called The Woods, which will be a showcase for specialty lifestyle surf brands, from international indie brands to up-and-coming local labels.
Emerald Expositions Chief Financial Officer Philip Evans acknowledged the surf presence at Outdoor Retailer (OR) but said there had not been a focus on building the show’s surf exhibitor base.
“Outdoor Retailer has not been building its surf business per se. Instead, OR is appropriate for and welcoming to companies that develop product offerings that fit with the broad outdoor retailer market. Many brands participate at OR—including ones from the surf industry—whose roots or origination may have begun separate from outdoor but who have developed product lines more consistent with the outdoors,” he said. “To the extent that these companies want to avail themselves of the outdoor retail marketplace and develop lines that can succeed in that space, we will welcome them at OR. Ultimately, decisions to participate in any particular show come down to each individual company determining whether their product offerings are likely to succeed there and, of course, gauging that success or lack thereof based on their experiences.”
