Tuesday, December 14, 2010
Deal Positions Platts to Give Customers a Comprehensive View of Gas and Related Power Markets
NEW YORK, December 14, 2010 - Platts, a leading global provider of energy and metals information and a division of The McGraw-Hill Companies, Inc. (NYSE: MHP), today announced an agreement to acquire BENTEK Energy, LLC, a privately held energy market analytics company headquartered in Evergreen, Colorado. BENTEK, which provides analytics and information services to a blue-chip customer base in North America, is widely recognized as the industry leader in natural gas market fundamental analysis. The acquisition will deepen Platts’ analytical capabilities globally and enhance its coverage of the North American and European gas and related power markets.
The purchase price was not disclosed. The acquisition is expected to be completed in early 2011. Following the closing, BENTEK will continue to operate under its current name with its current management.
“BENTEK is a highly successful company whose leadership position has been attained through its deep understanding of energy industry dynamics, of the data reflecting those dynamics, and of the requirements of customers,” said Larry Neal, president of Platts. “By combining BENTEK's analytical expertise with Platts’ products, we can offer customers a comprehensive view of the North American natural gas market. Our collective capabilities will provide them with a unique lens on the market – from underlying supply/demand fundamentals to real-time news and price information – and deepen our coverage of other complex commodity markets.”
Porter Bennett, BENTEK’s president and CEO, added that Platts’ current position in power, coal and liquefied natural gas, coupled with its global sales force, provides the opportunity to accelerate BENTEK’s plans for expanding into new commodities and international markets. “As part of Platts, we are better positioned to capitalize on the increasing internationalization and interdependence of the natural gas and liquids markets and address the growing global demand for fundamental market data and analysis.”
The BENTEK acquisition follows Platts’ announcement last week that it plans to acquire Oil Price Information Service, LLC (OPIS), a leading provider of news and price information to the wholesale and retail petroleum markets in North America. With the BENTEK and OPIS acquisitions, Platts will deepen its power coverage and broaden its oil coverage in the North American market.
BENTEK, founded in 1985, offers a comprehensive portfolio of data, information and analytics products in the natural gas and liquids sector. Its customers include the majority of the top firms in the energy industry, including independent producers, pipeline companies, and utilities, as well as industry regulators, financial institutions, and the largest energy hedge funds,. In addition to its subscription-based products, BENTEK provides consulting services related to its data analysis services and hosts Benposium, a major natural gas conference on energy market trends and dynamics that attracts hundreds of industry executives, analysts, traders and investors. The company has 100 employees based in its Evergreen, Colorado, headquarters outside Denver.
About Platts: Platts, a division of The McGraw-Hill Companies, is a leading global provider of energy and metals information. With a century of business experience, Platts serves customers across more than 150 countries. An independent provider, Platts serves the oil, natural gas, electricity, emissions, nuclear power, coal, petrochemical, shipping, and metals markets from 17
offices worldwide. Platts' real-time news, pricing, analytical services and conferences help markets operate with transparency and efficiency. Traders, risk managers, analysts, and industry leaders depend upon Platts to help them make better business decisions. Additional information is available at http://www.platts.com.
About The McGraw-Hill Companies: Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a global information and education company providing knowledge, insights and analysis in the financial, education and business information sectors through leading brands including Standard & Poor's, McGraw-Hill Education, Platts, and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2009 were $5.95 billion. Additional information is available at http://www.mcgraw-hill.com/.
Pat Wood, senior director of communications
Donald Rubin, senior vice president - Investor Relations
The McGraw-Hill Companies
BENTEK Energy, LLC