Access Intelligence, a media and information company serving the chemical, energy, defense, aerospace and communications markets, just sold Chemical Week magazine, SRI Consulting, and The Energy Daily to publicly traded business information company IHS Inc. Terms of the transaction were not disclosed. Access is backed by the private equity firm Veronis Suhler Stevenson.
Veronis Suhler Stevenson, a leading private equity firm dedicated to the business information and services, education, media and business and marketing services industries, today announced that its affiliate Access Intelligence, a full service global b-to-b media and information company serving the chemical, energy, defense, aerospace and communications markets, has sold assets from its Chemical portfolios– comprising Chemical Week and SRI Consulting – and The Energy Daily to IHS Inc. (NYSE: IHS), a global provider of business information, analysis and insight. Terms of the transaction were not disclosed.
Access Intelligence’ Chemical business was formed in 2004 through the acquisition of SRI Consulting, a provider of market intelligence and technical analysis and consulting services, and Chemical Week, a premier source of news and analysis for professionals in the chemical industry. Since then, the Chemical division has strategically expanded its revenue streams through the introduction of market leading online products, popular tradeshows and events, subscription-based services and paid for content, positioning the business competitively in the market. As a result of the group’s solid growth, Access Intelligence has seen strong interest from multiple potential strategic buyers in recent years, leading to the sale to IHS at an attractive multiple.
“Developing Access Intelligence’s global portfolio over the past 10 years — and positioning its assets such as the Chemical Week, SRI Consulting and The Energy Daily in the respective served verticals — has not only been a rewarding experience, but is also a testimony to the success of VSS’s buy-and-build strategy,” said Hal Greenberg, Partner of the VSS Structured Capital Funds. “With Access Intelligence, we have been able to develop an attractive platform with an infrastructure primed for further growth.”
“Access Intelligence is a very profitable business, even after the sale of these assets. Over time, we’ve smartly expanded its product offerings making it less reliant on advertising and launching e-products, services and events in verticals where there is high demand,” said Don Pazour, President and Chief Executive Officer of Access Intelligence. “In coming months, in partnership with VSS’ team and equipped with a strong balance sheet, we will focus on continuing to build out Access Intelligence’s portfolio by targeting high-growth verticals, such as the healthcare and renewable energy sectors, with a focus on paid content, events and e-media.”
Headquartered in Rockville, Md., Access Intelligence was acquired by VSS affiliates in 2000. The company’s started out as Philips Business Information, Inc. (PBI Media), and was subsequently built out into a global platform through strategic add-on acquisitions under Pazour’s leadership.
Quayle Munro served as the financial advisor to Access Intelligence.
About Veronis Suhler Stevenson
Veronis Suhler Stevenson is a private equity and debt capital fund management company dedicated to investing in the information, education, media, and business and marketing services industries in North America and Europe. VSS provides capital for buyouts, recapitalizations, growth financings and strategic acquisitions to companies and management teams with a goal to build companies both organically and through a focused add-on acquisition program. To date, VSS equity and debt funds have invested in 65 platform companies, which have in turn completed over 300 add-on acquisitions resulting in a portfolio with realized and unrealized enterprise values totaling over $14 billion. The company’s website is www.vss.com.
About Access Intelligence
Access Intelligence is a b-to-b media and information company headquartered in Rockville, Md., serving the energy, chemical, defense, aerospace and communications markets. Leading brands include, Defense Daily, CableFAX Daily, and Aircraft Value News newsletters; codingbooks.com, AviationToday, Cable360, PRnewsonline and minonline Web sites; Power, Chemical Engineering, Via Satellite and Case-in-Point magazines; and Electric Power, RETECH, , Energy Ocean, Satellite 2011 and Offshore Communications tradeshows. Access Intelligence also produces a suite of medical coding books, e-learning, conferences and online directories for the healthcare market. The company’s website is www.accessintel.com