Haymarket Media, Inc. (www.haymarket.com) has agreed to acquire Compliance Week (www.complianceweek.com) from Boston-based Financial Media Holdings Group, Inc. (www.fmhgroup.com). Both companies are privately-owned. The transaction is expected to close July 1, 2008.
JEGI CLARITY (www.jegiclarity.com), the leading provider of independent investment banking services for media, information, marketing and related technology, represented Financial Media Holdings Group in this transaction and acted as its exclusive financial advisor. Terms of the transaction were not disclosed.
Compliance Week is the leading provider of corporate governance, risk and compliance information for financial and legal executives at public companies. Founded in 2002 by Scott Cohen and Frank Hertz, Compliance Week produces a paid weekly electronic newsletter, a paid monthly BPA-audited print magazine, a major annual conference and other live events, and a paid access web site that includes news, analysis, research, searchable governance databases and other valuable online resources.
“We are thrilled to have made this acquisition, and to be working with Scott and Frank who have developed an extraordinary passion for this complicated and rapidly developing market,” said Haymarket Media Chairman & CEO William Pecover. “Along with fellow shareholders Barry Greenfield (Vice President of Sales) and Rob Raisch (Chief Technology Officer), they have built an impressive team and range of products designed from the outset to address changing habits of media consumption.”
“We are tremendously excited to be working with the world-class team at Haymarket,” said Compliance Week’s Scott Cohen. “Haymarket’s international footprint, its broad array of media titles, and its 50 years of publishing prowess make the perfect global launching pad for Compliance Week. In addition, the culture of ethics, integrity and sustainability embedded at Haymarket perfectly echo the mission and vision of our publication.”
Mr. Cohen added, “JEGI CLARITY did an extraordinary job advising Financial Media Holdings Group in the sale of Compliance Week. Their experience, professionalism, and knowledge of our core business were absolutely invaluable.”
In the US, Haymarket Media publishes a dozen titles covering the marketing, public relations, medical, elderly care, and information security businesses, each with market-leading online platforms. Compliance Week will be part of the Marketing & Technology Division of Haymarket Media run by Managing Director, Lisa Kirk. Scott Cohen, Frank Hertz, Barry Greenfield, and Rob Raisch will all be staying on with Haymarket in their current Compliance Week roles. The business will remain at its existing offices in Boston.