Highline Media, parent company to Claims Magazine, and Ohio-based Pfingsten Publishing have been acquired by private equity firm Wind Point Partners. Under the purchasing terms, the two companies will form a new publishing entity that will operate under the name of Summit Business Media.
"We are very pleased to acquire Pfingsten and Highline, which have been fast-growing, business-to-business information companies," said William Reilly, who will serve as chairman and chief executive officer of Summit Business Media. "The businesses have major brands and are leading information providers in their respective markets. The fact that both are information providers to the insurance industry, for example, is a major plus."
"Everyone at Highline is excited to join Bill Reilly, Pfingsten, and Wind Point Partners to create a world-class information company," said Andy Goodenough, president of Highline Media. "We have long respected Pfingsten's leading brands in the insurance and mortgage categories as well as their trade show program for financial investors in the precious metals markets worldwide."
Pfingsten Publishing currently publishes magazines D?COR, VOLUME, Art Business News, Life Insurance Selling, American Agent & Broker, Mortgage Originator, Contractor Tools & Supplies, MRO Today, and Progressive Distributor. It also recently added International Investment Conferences to its fold.
Highline Media was formed in October 2003 to acquire The National Underwriter Company, a publisher and reference provider to the insurance and financial industries. Magazine brands include Claims, the National Underwriter Property/Casualty and Life/Health weeklies, Tech Decisions, Insurance Advocate and Florida Underwriter. Reference tools include TaxFacts and Fire, Casualty and Surety Bulletins, along with 150 other books and electronic products, and five conference events. In May 2004, the company added insurance data assets, including regulatory, M&A and publicly traded data, from The Thomson Corporation. In the fall of 2005, Highline acquired Wealth Manager magazine from Bloomberg and Research and Futures magazines from Adams Business Media, and in 2006, the insurance executive events from The Conference Group.
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