SAN JUAN CAPISTRANO, CA (BRAIN) — Emerald Expositions, owner of Interbike, Outdoor Retailer and Bicycle Retailer & Industry News, has acquired GLM Markets and one of its trade shows, Surf Expo, for $335 million.
Emerald will fund the deal with about $200 million in debt and a $140 million equity investment from Onex Partners. Onex Partners III, a Canadian private equity fund, bought Nielsen Expositions last June for $950 million and renamed it Emerald Expositions.
The deal, announced early Friday, is expected to close in January. GLM's CEO, Charles McCurdy, and Providence Equity Partners bought GLM from the U.K.-based Daily Mail & General Trust in September 2011 for $173 million. Onex trades on the Toronto stock exchange under OCX.
Besides Surf Expo, GLM's events include NY NOW, International Contemporary Furniture Fair and Internet Retailer Conference & Exhibition.
Emerald, with offices in San Juan Capistrano, produces more than 65 trade shows and events each year. "This acquisition expands upon our position as a leading trade show organizer in the United States." said David Loechner, Emerald's CEO.
Bicycle Retailer & Industry News is operated by NBDA Services under license from Emerald.