Thursday, April 27, 2006

ENK Needs Little Help for Growth

According to Dan Primack who writes and edits the awesome PE Week Wire:
"ENK International, a New York-based tradeshow organization for the fashion industry, has agreed to receive a 'substantial investment' from Forstmann Little & Co. The deal is scheduled to close in May, with Berkery, Noyes & Co. serving as exclusive financial advisor to ENK."

ENK is responsible for fashion trade shows like The Collective and Blue, which compete with the Project show.

Elyse Kroll will remain ENK's CEO and major shareholder.

Yahoo Biz profiles Frostmann Little like this: "The company, which specializes in telecommunications, technology, education, and health care investments, counts among its former advisory board members Donald Rumsfeld, Colin Powell, George Shultz, and Henry Kissinger. Since its founding in 1978, Forstmann Little has invested more than $10 billion in about 30 companies, including former holdings Gulfstream Aerospace, The Topps Company, General Instrument, Revlon, and Dr. Pepper; current holdings include Citadel Broadcasting and IMG."

Of course IMG owns and runs Olympus Fashion Week in New York along with other fashion events around the globe.

Although I don't have the details of the deal in front of me I think this is great news for ENK's growth.