NUCO Board Approves Sale Of Company To Highline Media
The board of directors of The National Underwriter Company (“NUCO”) has approved a definitive merger agreement whereby NUCO would be acquired by Highline Media, LLC, subject to the approval of NUCOs ESOP participants.
Highline is a new company formed by Spire Capital Partners, L.P., and headed by Andrew L. Goodenough, its president and CEO. Spire is a $260 million private equity fund based in New York with financial interests in a number of media companies.
Highline plans to use National Underwriter as a base from which to build a multi-market, multi-product business-to-business publishing and related media company, including a combination of magazine, newsletter, conference, trade show, Web site and data assets, delivered in print, electronic and live event form.
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Highline intends to acquire and launch publishing assets in the financial services, insurance and real estate fields utilizing the strengths of Spires media contacts and financial capital, the experience of Goodenough, and the foundation and people of NUCO.