Euromoney acquires Gulf Publishing Company

Text size:

Thursday 6 September 2001

Euromoney Institutional Investor PLC ("Euromoney") has acquired the net assets and business of Gulf Publishing Company ("Gulf"), one of the oldest U.S. publishing houses in the energy sector, for a cash consideration of US$10 million. Gulf is Euromoney's first major acquisition in the U.S. since Internet Securities, Inc was acquired in January 1999.

Gulf's roots go back 85 years to 1916 when it launched World Oil magazine which has been published monthly ever since. Hydrocarbon Processing has been published monthly since 1922 and Pipeline & Gas Industry since 1954.

John D. "Rusty" Meador has been named President and Chief Executive Officer of Gulf, which will remain headquartered in Houston, Texas.

Gulf, founded by Ray L. Dudley in 1916, was acquired in January 2000 by Houston-based SCF Partners and Battery Ventures who formed the previous parent company, WorldOil.com.

"Gulf has a long history of producing specialized magazines and catalogs with well-respected names that are known and used globally," said Christopher Fordham, Euromoney's Business Development Director. "This acquisition will greatly enhance Euromoney's strategic growth into the energy sector in both the U.S. and other key market centres around the world."

"We are delighted to have the opportunity of working alongside the experienced and multi-talented team at Gulf at a time when high-quality information about energy industries is at a premium," he said.

Commenting on the acquisition, Rusty Meador said: "This is excellent news for Gulf and its staff. Euromoney is committed to the high editorial and publishing standards of Gulf; its monthly magazine Petroleum Economist is a good complementary fit to Gulf's products. We very much look forward to working with the Euromoney team to develop and grow the business."

Inquiries to:
Christopher Fordham Euromoney Institutional Investor plc, London +44 207 779 8057
Colin jones Euromoney Institutional Investor plc, New York +1 212 224 3930
Rusty Meador Gulf Publishing, Houston +1 713 529 4301

Note to editors: Euromoney Institutional Investor PLC is quoted on the London Stock Exchange and publishes around 100 business-to-business titles including Petroleum Economist, Euromoney and Institutional Investor. In addition, the company runs conference and training events, database, electronic and other print publishing businesses in a variety of markets internationally. Petroleum Economist is wholly owned by Euromoney and is the leading international journal for senior executives and Board members of energy companies and associated banking, consultancy and other services.