Wind Point Partners buys Pfingsten & Highline Media.

In two separate deals, Wind Point Partners (Chicago, IL/Southfield, MI), a private equity investment firm, has acquired Pfingsten Publishing (Seven Hills, OH) and Highline Media (Erlanger, KY) and combined the two companies to form Summit Business Media. Wind Point formed Summit in partnership with former Primedia Business Media CEO William Reilly, who has assumed the role of Chairman and CEO. No terms were given for either deal. Publishing veterans Andrew Goodenough, President of Highline, and Joseph Bennett, President of Pfingsten, will remain in their current positions. Highline was represented by BMO Capital Markets and Pfingsten was represented by Jordan, Edmiston Group (New York).

Highline Media is a company formed in October 2003 to acquire The National Underwriter Co., a publisher and reference provider to the insurance and financial industries. Magazine brands include the "National Underwriter Property/Casualty" and "Life/Health" weeklies, "Claims," "Tech Decisions," "Insurance Advocate" and "Florida Underwriter." The company also produces reference tools, including "Tax-Facts" and "Fire, Casualty and Surety Bulletins," along with 150 other books and electronic products, and three conference events.

In May 2004, Highline added insurance and banking data assets, including regulatory, M&A and publicly traded data, from The Thomson Corp. In the fall of 2005, the company acquired "Wealth Manager" magazine from Bloomberg (New York) and "Research" and "Futures" magazines from Adams Business Media (Chicago, IL). Highline Media was backed by Spire Capital Partners (New York) and had revenues of approximately $50 million.

Established in 1998, Pfingsten Publishing (Seven Hills, OH) is a b2b media company that serves ten market segments through three main business groups. The company's Art and Framing Group serves art and framing retailers, manufacturers and distributors in the decorative and fine art markets with the production of "Decor," "Art Business News," "Framing Monthly" and "Volume" magazines, the DECOR Expo trade shows, the Artexpo fine art shows and the "Art Miami" and "Art Washington" modern and contemporary shows.

Pfingsten's Financial Services Group serves the life and health insurance, property and casualty insurance and mortgage origination markets with "Life Selling," "American Agent & Broker" and "Mortgage Originator" magazines. 24 conferences, two trade shows and a range of other educational, electronic and ancillary products. The company's Industrial Group serves the light commercial construction, maintenance repair and operations (MRO), and industrial distribution markets with "Contractor Tools & Supplies, "MRO Today" and "Progressive Distributor" magazines, three conferences and related online and print products.

Wind Point's only other publishing portfolio company is Active Interest Media (El Segundo, CA), a producer of enthusiast magazines, including such tiles as "Log Home Design" and "Vegetarian Times," books and consumer shows, and "Building Systems," a trade magazine for builders, developers and general contractors using innovative construction technologies.