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VS&A Comm. Partners II sells Hart Publications to new company.

VS&A Communications Partners II, L.P. (New York), 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. 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 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), a pan-European directories group with anticipated EBITDA in the current year of approximately EUR 160 million. VS&A initially invested a total EUR 280 million in the three businesses.
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Title Annotation:Hart Energy Publishing
Comment:VS&A Comm. Partners II sells Hart Publications to new company.(Hart Energy Publishing )
Publication:Business Publisher
Article Type:Brief Article
Geographic Code:1USA
Date:Apr 16, 2004
Words:281
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