Providence Equity Partners has agreed to acquire George Little Management from Daily Mail and General Trust (LSE: DMGT) for $173 million. GLM provides buying, selling and networking platforms through tradeshow and event production, online community development and association management. Providence was legally advised by Weil, Gotshal & Manges, while DMGT was financially advised by The Jordan, Edmiston Group. The deal is one of two completed by JEGI in one day, the other being the acquisition of Focus Research.
Since the beginning of 2008, PE investors have invested in 177 companies in the B2B Media & Information Services industry, according to the PitchBook Platform. Led by add-on acquisitions and platform buyouts, activity in the sector is making a strong comeback from 2009 as the general economy begins to recover and company wallets reopen for marketing and similar activities.