Friday, September 07, 2001
NEW YORK, Sept. 7, 2001 -- Joseph Berkery, President of Berkery, Noyes & Co., announced today that the firm represented the owners of Gulf Publishing Company in the sale of Gulf's assets and operations to Euromoney Institutional Investor PLC.
Terms of the transaction, which was completed August 31, 2001, were not released.
John D. "Rusty" Meador, who has been named President and Chief Executive Officer of Houston-based Gulf, said: "This is excellent news for Gulf and its staff. Euromoney is committed to the high editorial and publishing standards of Gulf and its monthly magazine Petroleum Economist is a good complementary fit to our products. We very much look forward to working with the Euromoney team to grow our business."
"Gulf has a long history of producing specialized magazines and catalogs with well-respected names that are known and used globally," said Christopher Fordham, Euromoney's Business Development Director. "This acquisition will greatly enhance Euromoney's strategic growth into the energy market both in the U.S. and other key market centers around the world."
"We are delighted to have assisted SCF Partners and Battery Ventures, owners of Gulf Publishing Company, in this important transaction," commented Mark S. Collins, Managing Director of Berkery, Noyes & Co., who along with Mary Jo Zandy, Managing Director, handled this and two related divestitures for the private equity firms. Last year, Berkery, Noyes & Co. sold Gulf's engineering and business management book lines to Butterworth-Heinemann, a member of the Reed Elsevier plc group, and its Jamsa Press computer book line to Delmar Thomson Learning, a division of The Thomson Corporation.
Founded in 1916, Gulf Publishing Company is one of the oldest, most trusted and comprehensive sources of general and technical information relating to the worldwide oil and gas industry. Through World Oil, Hydrocarbon Processing and Pipeline and Gas Industry, its three market-leading business-to-business magazines, The Composite Catalog of Oilfield Equipment & Services, the industry's largest parts, equipment and services catalog, and WorldOil.com, its Internet-based oilfield information source, Gulf provides end-to-end coverage of the upstream, midstream and downstream segments of the multi-billion dollar global energy business.
Euromoney Institutional Investor PLC is quoted on the London Stock Exchange and publishes more than 100 business-to-business periodicals including Institutional Investor, Euromoney, and Petroleum Economist. In addition, the company owns and operates numerous conferences and training businesses in a variety of markets around the world.
Berkery , Noyes & Co. specializes in investment banking for the information, publishing and communications industries. Its clients range from small firms, often seeking a buyer, to most of the major international information companies, who use the firm's expertise in locating, analyzing and negotiating with acquisition candidates, as well as in managing divestitures. The firm operates with a staff of twenty-two professionals from offices in New York, Boston, San Francisco and Frankfurt, Germany.