daratechPLANT, held every January in Houston, Texas, is the world's leading event aimed at suppliers and users of IT solutions for designing, engineering, building and maintaining industrial plants. Each year, it attracts a unique audience of more than 900 executive-level delegates and 30 exhibitors, drawn from owner-operator companies, engineering and procurement firms, and IT solutions providers. Previous owner, Daratech, Inc., headed by well-known industry figure, Charles Foundyller, is selling the event to concentrate on its consulting business in this sector, but will remain involved in the event as a consultant. No other assets of Cambridge, MA-based, Daratech, Inc., are being transferred and Daratech, Inc., will continue to serve its clients with its full range of services.
"We are delighted to have the opportunity to acquire the leading event for this crucial interface between engineering and information technology," said Donald Pazour, CEO of Access Intelligence. "This event fits perfectly into our stable of products aimed at executives in the chemical and energy industries, including Chemical Engineering and Chemical Week websites, magazines and conferences, and The Energy Daily news and information service."
Access Intelligence is a portfolio company of Veronis Suhler Stevenson's private equity Fund III. Terms of the acquisition were not disclosed.
John Pearson, divisional president of Access Intelligence's Chemical Division, added: "The industry that daratechPLANT serves is a vital one. Our plans for daratechPLANT include focusing the conference on the key issues of system interoperability, standards for data interchange and integration of engineering systems with operations and maintenance. Another focus will be the use of smart IT solutions to overcome the current skills shortage."
Daratech, Inc., CEO, Charles Foundyller, said: "We feel very confident that Access Intelligence will guarantee that the reputation of the event as an educational forum is maintained and beginning in 2008 will deliver more breadth, value and exceptional content to all its constituents as the industry moves to integrate business, engineering, and operational information from all segments of the plant lifecycle."
For more information on the next daratechPLANT Conference, visit www.daratechplant.com.
About Access Intelligence
Access Intelligence (www.accessintel.com), a portfolio company of Veronis Suhler Stevenson, is a b-to-b media and information company headquartered in Rockville, Md., serving the chemical, defense, satellite, aviation, cable, telecommunications, media and public relations markets. Leading brands include Chemical Week, Energy Daily, Via Satellite, Rotor & Wing, CableWORLD; Defense Daily, PR News, Media Industry Newsletter, CableFAX Daily newsletters ; TelecomWeb and Defense Daily Network, subscription-based Web sites and the Chemical Economics Handbook and Process Economics Program research databases. Access Intelligence also produces the leading tradeshow for satellite executives and executive conferences for the chemicals market.
To schedule a media interview with John Pearson, contact Tina Costilla at 650-384-4348.
About Veronis Suhler Stevenson (VSS)
VSS is a private equity and mezzanine capital fund management company dedicated to investing in the media, communications and information industries in North America and Europe. Since 1987, VSS has managed over $2.5 billion in committed capital across four private equity funds and a mezzanine debt fund, all focused exclusively on the media, communications and information industries. VSS provides capital for buyouts, recapitalizations, growth financings and strategic acquisitions to companies and management teams with a goal to build companies both organically and through a focused add-on acquisition program. To date, VSS equity funds have invested in 40 platform companies, which have in turn completed over 200 add-on acquisitions resulting in a portfolio with realized and unrealized enterprise values totaling approximately $7.5 billion. For additional information: www.vss.com.
Access Intelligence, LLC
Macy Fecto, 301-354-1550