VS&A Comm. Partners II sells Hart Publications to new company.VS&A Communications Partners II, L.P. (New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of ), a private equity affiliate of Veronis Suhler Stevenson, has sold Hart Publications (Houston, TX) to Hart Energy Publishing (Houston, TX), a new company formed by Hart management and Wiegers Capital Management (Denver, CO). Compass Advisors (Coral Gables, FL) advised on the deal and is an equity investor. J.P. Morgan Chase (New York) provided debt financing Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay . No terms of the deal were given. Hart Publications is a diversified publisher for the energy finance, exploration and production, pipeline, power generation, refining, processing and fuels sectors. The company's magazine titles include Hart's Oil & Gas Investor, Hart's E&P, Energy Markets, Pipeline & Gas Technology and World Refining. Hart also produces 11 newsletters, including such titles as Diesel Fuel News, Petroleum Finance Week and World Fuels Today, the World Fuels Conference series, and related research reports, directories and web sites. VS&A CPII CPII Characteristics & Performance Intelligence Information CPII Communications & Power Industries International acquired Hart as part of its acquisition of Phillips Business Information (Potomac, MD) in October 2000. New Hart ceo Richard Eichler said the company's board of directors are "prepared for significant investment in new launches and product expansion. They are investing in Hart's strategy of developing an integrated family of products and services for the energy industry." In related news, Veronis Suhler Stevenson equity affiliate VS&A Communications Partners III (New York) and partner 3i (London) are consolidating their three European telephone directory businesses. Fonecta (Finland), Telefoongids (the Netherlands) and Mediatel (Austria, Czech Republic and Slovakia) will merge to create Yellow Brick Road (YBR YBR Brandon, Manitoba, Canada (Airport Code) YBR Your Benefits Resources (software) YBR Young, Black, and Rich ), a pan-European directories group with anticipated EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become in the current year of approximately EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 160 million. VS&A initially invested a total EUR 280 million in the three businesses. |
|
||||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion