NU Online News Service, Oct. 2, 2003, 6:13 p.m. EST – The National Underwriter Company, Erlanger, Ky., and Highline Media L.L.C. today completed a definitive merger agreement. Terms of the transaction were not disclosed.
The merger agreement was first announced Sept. 5. NUCO, which had been owned by an employee stock ownership plan, put the merger to a shareholder vote. Highline received more than 96% of the votes cast.
NUCO, formed in 1897, publishes the National Underwriter Life & Health/Financial Services weekly news magazine, the National Underwriter Property & Casualty/Risk & Benefits Management weekly news magazine and the NU Online News Service. The company also publishes three monthly magazines: Claims, Tech Decisions and Florida Underwriter.
Other NUCO products include many books and subscription-based information services, such as the Fire, Casualty and Surety Bulletins and the Advanced Sales and Reference Service. The company also organizes live events, including the ACE/SCLA claims conference and TechDec.
Highline is a new company formed by Spire Capital Partners, L.P., New York, and headed by Andrew L. Goodenough, its president and chief executive officer. Spire is a $260 million private equity fund with financial interests in a number of media companies.
Goodenough says Highline plans to use NUCO as a base from which to build a multi-market, multi-product business-to-business publishing and related media company.
Goodenough has 25 years of experience in publishing, most recently as president of the Financial Publishing and Conferences Group at Thomson Financial Publishing.