NUCO, Highline Complete Merger

NU Online News Service, Oct. 2, 4:20 p.m. EST

The merger agreement was first announced on Sept. 5. In theinterim, NUCO, which had been an employee stock ownership plan, putthe merger to a shareholder vote. Over 96 percent voted to approvethe deal.

NUCO, formed in 1897, is the publisher of two weeklyNational Underwriter news magazines (one forproperty-casualty and risk management, and one for life andhealth/financial services), the "NU Online News Service," and threemonthly publications?Claims, Tech Decisions andFlorida Underwriter.

NUCO also publishes numerous books and subscription-basedinformation services, such as the Fire, Casualty and SuretyBulletins and the Advanced Sales and Reference Service. The companyalso holds live events, including the ACE/SCLA claims conferenceand TechDec.

Highline is a new company formed by Spire Capital Partners,L.P., and headed by Andrew L. Goodenough, its president and chiefexecutive officer. Spire is a $260 million private equity fundbased in New York City with financial interests in a number ofmedia companies.

Mr. Goodenough said that Highline plans to use the company as abase from which to build a multi-market, multi-productbusiness-to-business publishing and related media company.

Mr. Goodenough has 25 years in publishing--most recently aspresident of the Financial Publishing and Conferences Group atThomson.