Elsevier acquires certain book assets of Gulf Publishing Company

elsevierElsevier has acquired certain book assets of Gulf Publishing Company. The portfolio of 32 books includes petroleum engineering titles in drilling, pipeline, oil and gas, and safety.

The GPC titles are for professionals in upstream oil and gas engineering and cover drilling, recovery methods, reservoir management, processing, and pipeline transmission. They include the Gulf Drilling Series, which emphasizes current techniques and technologies in the drilling industry; handbooks in oil and natural gas engineering; books on enhanced and non-conventional recovery techniques, including the high interest area of hydraulic fracturing (fracking); and data handbooks useful as reference sources for researchers and applied engineers working with the physical and chemical properties of hydrocarbons.

“The acquisition of the Gulf titles expands Elsevier’s petroleum engineering offering, positioning Elsevier as the leading book publisher for the oil and gas industry,” said Suzanne BeDell, Managing Director, Science & Technology Books, Elsevier. “The titles are of high-quality and complement our existing energy and fuel list, which is a benefit for corporate and academic customers using our ScienceDirect platform.”

All of the GPC books will be available through the Elsevier Store and on ScienceDirect, a full-text scientific database offering journal articles and book chapters from more than 2,500 peer-reviewed journals and more than 11,000 books. Many of the titles are also available on Knovel, a web-based application integrating technical information with analytical and search tools to deliver answers engineers can trust.

The Netherlands, Amsterdam & USA, Waltham, MA

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PennWell acquires the Oil & Gas Pipeline Conference from Willbros Engineers

PennwellPennWell Corporation has acquired the Oil & Gas Pipeline Conference from Willbros Engineers and entered into an agreement with the Geospatial Information & Technology Association (GITA) to produce the annual conference and exhibition. The 22nd annual Oil & Gas Pipeline Conference will be held October 28-30, 2013 at the Royal Sonesta Hotel in Houston. Terms of the agreements with Willbros and GITA were not disclosed.

GITA founded the Oil & Gas Pipeline Conference in 1991 and developed the conference into an important technical event for the oil and gas pipeline sector. For the October 2012 Oil & Gas Pipeline Conference, GITA partnered with Willbros Engineers to conduct the event as GITA completed its transition to an all-volunteer organisation. Over 350 industry professionals attended the October 2012 Oil & Gas Pipeline Conference in Houston, which also had 55 exhibitors and sponsors. The annual event includes multiple conferences and networking sessions.

Robert F. Biolchini , president and CEO of PennWell, said, “We are enthusiastic about the opportunity to work with GITA with the goal of rapidly accelerating the growth of the Oil & Gas Pipeline Conference and we also look forward to the ongoing support of Willbros and other sponsors of the event. The pipeline and transportation sectors of the industry are experiencing phenomenal growth due to the resurgence of exploration and drilling in North America, and we intend to leverage PennWell’s publishing assets and event expertise of our editorial staff of the Oil & Gas Journal, Offshore, and Oil & Gas Financial Journal in a close collaboration with GITA to expand the conference and preserve the standard of quality in conference content established by GITA over the last 21 years.”

PennWell’s portfolio of conferences and exhibitions also includes Deep Offshore Technology (DOT), Offshore Middle East, Offshore Asia, Offshore West Africa, PetroWorld India, and Oil Sands Heavy Oil Technologies in Canada. PennWell publishes Oil & Gas Journal.

Tulsa, OK

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RPS Group PLC acquires Petroleum Institute for Continuing Education

RPSlogoRPS Group PLC, an energy and natural resources consultancy, has acquired Petroleum Institute for Continuing Education (“PEICE”), a Canadian based business providing geoscience and engineering training to the oil and gas industry, for a maximum consideration of C$11.7 million (£7.4 million).

PEICE has been providing training to the oil and gas industry for 12 years. During 2012 it delivered over 200 courses, primarily in Canada and the US. The courses cater for a wide range of participants including recent graduates and technical and administrative support staff, as well as senior energy company staff. Course formats include open courses, in-house at client facilities and on-line delivery. peice

In the year ended 31 August 2012 PEICE had revenues of C$7.4 million (£4.7 million) and profit before tax of C$2.0 million (£1.3 million), after adjustment for non-recurring items.  Net assets at 31 August 2012 were C$0.4 million (£0.25 million).  On the same basis, gross assets at 31 December 2012 were C$1.0 million (£0.6 million).

RPS is acquiring the entire share capital of PEICE for a maximum total consideration of C$11.7 million (£7.4 million), all payable in cash.  Consideration paid at completion was C$5.7 million (£3.6 million).  Subject to certain operational conditions being met, two further sums of C$3 million (£1.9 million) will be paid on the first two anniversaries of the transaction.

The founder and joint owner (with his wife) of the business will be remaining with RPS after the transaction, along with all current PEICE staff. They will work with RPS’ existing energy training teams in the UK and US to extend the range of courses offered and the geographical reach of the business.

Alan Hearne, Chief Executive of RPS, said, “The acquisition of PEICE extends the geographical reach and capability of our existing energy training business.  This remains a growth market, as technical training continues to be important for most of our E&P clients.”

UK, Abingdon, Oxforshire & Canada, Calgary, AB

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Penton Media acquires Farm Progress From Fairfax Media for $80M

Penton Media has acquired Farm Progress from Fairfax Media Limited of Sydney, Australia. The acquisition more than doubles Penton’s position in agriculture, which becomes the company’s largest sector group. The purchase price was $79.9 million before certain adjustments.

Farm Progress features four of the industry’s leading farm trade events, including America’s largest outdoor farm show, a broadcast division, and many well-established media brands. They join Penton Agriculture’s portfolio of market-leading franchises.

“Our investment is supported by several inarguable global economic trends including rising demand for nutrition, limited arable land and water, and strong export potential for agriculture products, capital equipment and related production technology into developing countries,” said Penton CEO David Kieselstein.

Farm Progress will become part of the Penton Agricultural Group reporting to Penton Senior Vice President, Dan Bagan. Jeff Lapin, president of Farm Progress, will leave the company at the end of the year. Farm Progress will remain headquartered in St. Charles, IL.

USA, New York, NY, & USA, St Charles, IL & Australia, Sydney

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World Energy Solutions acquires Northeast Energy Partners

World Energy Solutions, an energy management services firm, has acquired Northeast Energy Partners, a privately-held Enfield, CT-based energy management and procurement company, for approximately $7.9 million in cash plus an additional $5.2 million in seller notes and potential earn-outs.

“NEP is a perfect strategic fit for us,” said Phil Adams, CEO of World Energy Solutions. “The acquisition advances our goal of becoming the national leader in energy procurement for the mid-market segment, building on our purchase last year of GSE Consulting. The deal also brings us a roster of new customers in utility territories with active incentive programs where we can cross-sell our energy efficiency services. By helping clients lower the price they pay for energy, reduce the amount they consume, and maximize available incentives, we are providing a winning formula for lowering total energy cost.”

Added Jim Parslow, CFO of World Energy Solutions: “With the purchase of NEP, we are continuing to execute our growth strategy, supplementing strong organic growth with the acquisition of profitable, cash-generating companies that have predictable revenues and cash flows. Buying companies with these attributes allows us to use their cash flows to fund earn-outs and other considerations. We are financing this deal primarily with debt to minimize shareholder dilution, and we expect our purchase to be accretive and to have a positive impact on our top-line revenue, EBITDA and backlog.”

Founded in 2000 in response to natural gas and electricity deregulation in the Connecticut and Massachusetts markets, NEP established itself as one of the top energy brokerages in New England, specializing in the needs of small and mid-size businesses. With annual revenues topping $5 million, NEP currently employs 17, all of whom will be retained by World Energy. The Company will continue to operate in Enfield.

“Joining forces with a national energy management leader like World Energy will enable us to attract new customers, better serve our existing base, and provide our employees with exciting growth opportunities,” said Russ Monroe, President, Northeast Energy Partners. “World Energy’s approach to lowering a customer’s total energy cost is a compelling one, and our combined capability to execute it is going to make a big impact on how energy management gets done here and across the country.”

USA, Hartford, CT & Worcester, MA

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MITIE acquires Norwegian facilities management business

MITIE Group PLC, the strategic outsourcing and energy services company, has acquired the facilities management business of Dalkia Energy & Technical Services AS  in Norway.

MITIE has acquired the FM contracts and the majority of the employees of Dalkia FM for a total maximum cash consideration of NOK 10m (£1.06m) subject to certain conditions being satisfied over the period to 7 September 2012. Dalkia FM reported revenues of NOK 27.7m in the year ended 31 December 2011.

Ruby McGregor-Smith CBE, Chief Executive, MITIE Group PLC, commenting on the transaction, said, “This is a further step in our strategy to develop MITIE’s ability to support our clients overseas.  We are delighted to welcome the employees to MITIE.”

UK, Bristol & Norway, Oslo

Schneider Electric acquires M&C Energy Group

Schneider Electric has signed an agreement to acquire M&C Energy Group, a fast-growing company specialised in energy procurement and sustainability services for both multinationals and small to medium sized enterprises.

Headquartered in the Fife, Scotland, M&C provides its customers with energy procurement, compliance and performance optimization services mostly on recurring subscription basis. The company has more than 500 employees including 300 energy specialists and an international presence with 21 offices across 15 countries, particularly in Europe and Asia-Pacific.  M&C expects to generate total sales of approximately £35 million for the current year ending June 2012 with an EBITA margin above the Schneider Electric average.

In March last year Schneider Electric bought Summit Energy for total purchase price for the company is $268 million (~ € 190 million). See Fusion DigiNet article here.

Schneider Electric say that the M&C acquisition will complement the offerings and geographic presence of Summit Energy. M&C brings:

  • A strong client base of about 4,000 customers comprised of large corporations as well as a big pool of small to medium sized enterprises
  • Complementary geographical footprint, including Australia, Asia and some European locations
  • Highly experienced team specialized in services like energy procurement and risk management, regulatory analysis and compliance, performance optimization and sustainability auditing.

Chris Curtis, Schneider Electric’s Executive Vice President, Buildings Business, commented: “M&C is a bolt-on acquisition that will strongly complement Summit’s offerings, significantly enhance the Group’s position in energy management services, and accelerate our growth in countries where our presence is limited. In addition, this acquisition is totally in line with the Group’s strategy to boost services growth. The combination will allow us to connect their supply side expertise with our lead in demand side solutions and generate significant synergies.”

Mark Dickinson, CEO, M&C Energy Group commented: “Bringing M&C Energy Group and Schneider Electric together creates a global force in the energy advisory sector, providing long-term benefits to both staff and clients flowing from the combined knowledge, expertise, geographic footprint and range of products and service available.”

The completion of the transaction is subject to regulatory approvals and customary closing conditions.  The closing is expected to occur in the second quarter 2012. This acquisition is expected to be accretive on earnings per share from year 1 and to meet Schneider Electric’s Return on Capital Employed criteria in year 3.

France, Rueil-Malmaison, UK, Scotland, Fife and USA, Kentucky