NUCO, Highline Complete Merger

NUCO, Highline Complete Merger

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

NUCO, formed in 1897, is the publisher of two weekly National Underwriter news magazines (one for property-casualty and risk management, and one for life and health/financial services), the "NU Online News Service," and three monthly publications?Claims, Tech Decisions and Florida Underwriter.

NUCO also publishes numerous books and subscription-based information services, such as the Fire, Casualty and Surety Bulletins and the Advanced Sales and Reference Service. The company also holds live events, including the ACE/SCLA claims conference and TechDec.

Highline is a new company formed by Spire Capital Partners, L.P., and headed by Andrew L. Goodenough, its president and chief executive officer. Spire is a $260 million private equity fund based in New York City with financial interests in a number of media companies.

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

Mr. Goodenough has 25 years in publishing--most recently as president of the Financial Publishing and Conferences Group at Thomson.