19th Jan 2007 07:01
United Business Media takes controlling interest in RISI, Inc Adds new information product division focusing on global forest product industry
United Business Media plc announces today that it has acquired an additional 2% of the equity of RISI, Inc. from its private equity partner Pegasus Capital Advisors L.P. for $1m. The equity purchase brings UBM's total shareholding in RISI to 52%, giving UBM a controlling interest in the company. RISI, Inc provides UBM with a leading position in a new, growing global information market, the forestry product industry.
RISI, Inc. (www.risiinfo.com) provides online and printed pricing and market news, analysis, information and benchmarking products and services that are essential to the strategic planning and workflow of companies operating throughout the forest product industry supply chain, including timber, pulp, paper and packaging producers, suppliers to the industry, financial and government organizations and end-users of forest products such as consumer products companies and commercial printers.
RISI also has a small portfolio of events held annually around the world. The company employs a total of 130 staff, based in Bedford, Mass. with principal satellite offices in Brussels, San Francisco and Atlanta. In recognition of China's role as an increasingly important customer to the forest products industry, RISI also headquarters its Asian business in Shanghai. In 2006 RISI had revenues of $22m and generated profits of $1.5m.
John Day, formerly Chief Financial Officer at UBM's US-based CMP Technology division, has been appointed Chief Executive to succeed Rod Young, RISI's co-founder and retiring Chief Executive.
David Levin, Chief Executive of United Business Media Plc said:
"As the leading information product company in the global forest product industry RISI is well positioned to take advantage of the increasing demand for its products and to continue the growth it has shown in recent years.
"For UBM, RISI represents the nucleus of a new division which we will grow through the acquisition of complementary businesses and assets, and by investing in RISI's organic growth, supported by UBM's existing worldwide infrastructure, expertise and experience.
"I am delighted John Day is taking on the leadership of RISI and its management team. John has a proven track record of strong organizational leadership and brings with him a wealth of business experience that will benefit RISI hugely as it sets out on the next phase of its development, focusing on continued expansion and profitability."
- Ends - ContactsMedia Peter Bancroft Director of Communications E-mail [email protected] Direct telephone +44 20 7921 5961 Chris Barrie Citigate Dewe Rogerson E-mail [email protected] Direct telephone +44 20 7282 2943 Mobile +44 796 872 72 89 Analysts Catherine Southgate Head of Investor Relations Email [email protected] Direct telephone +44 20 7921 5031 Notes to Editors
1. About United Business Media plc
United Business Media is one of the world's leading global business information companies. UBM brings together the world's buyers and sellers, helping their markets work effectively and efficiently through PR Newswire's news distribution network, Commonweath's trade and transportation business intelligence, and through CMP's portfolio of events, print and on-line publications. For more information, go to www.unitedbusinessmedia.com
1.1. About RISI, Inc
RISI, Inc is the leading information provider for the global forest products industry. Our mission is to create the highest quality information for and about the global forest products industry and deliver it to customers as part of value-added solutions. For more information, go to www.risiinfo.com
1.2. About PR Newswire
PR Newswire is the world's leading corporate news distribution service. Headquartered in New York, PR Newswire provides news distribution, targeting, measurement and broadcast services on behalf of tens of thousands of customers including many of the world's top companies and agencies. PR Newswire has offices in 11 countries and routinely sends its customers' news to outlets in 135 countries and in more than 40 languages. PR Newswire's services include ProfNet Experts, eWatch, MEDIAtlas, Search Engine Optimization , MediaRoom, MediaSense and MultiVu. For more information, go to www.prnewswire.com
1.3. About Commonwealth & CMP
Commonwealth and CMP's portfolio of more than 200 events, 200 newspapers, magazines and directories and 200 websites brings together buyers and sellers from a range of global sectors including technology, healthcare, trade and transportation, the built environment, lifestyle, fashion and ingredients. The businesses operate globally through the following divisions:
1.2.1. Commonwealth Business Media: Commonwealth Business Media is the leading information provider to the global trade and transportation market with comprehensive proprietary data, news and analytical content. Commonwealth is headquartered in East Windsor, New Jersey with offices around the US and internationally. For more information, go to www.cbizmedia.com
1.2.2. CMPMedica: CMPMedica provides information and education to healthcare professionals and patients around the world. It has a unique portfolio of professional media products including newspapers, magazines, drug directories, electronic databases, websites and events. For more information, go to www.cmpmedica.com
1.2.3. CMP Asia: Headquartered in Hong Kong with offices throughout the region, CMP Asia is a leader in exhibitions and online and print business information publications for Asian markets. Working with partners from around the world, CMP Asia stages a range of leading events which includes the largest international jewellery, leather and fashion, beauty and furniture trade shows in Asia, as well as the definitive health show for the Japan market. For more information, go to www.cmpasia.com
1.2.4. CMP Information: Operating internationally, CMPi provides professional media solutions to around 20 industry sectors. Its products include exhibitions, conferences, awards events, magazines, data and information products and websites, targeted at business professionals across a range of markets such as the built environment, travel, licensed trade, agriculture, security and ingredients. For more information, go to www.cmpi.biz
1.2.5. CMP Technology: CMP Technology is a marketing solutions company serving builders, sellers and buyers of technology worldwide. Through its portfolio of market-leading event, print and online information brands, CMP Technology delivers access, insight and actionable programs designed to connect technology sellers and buyers. For more information, go to www.cmp.com
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