Quayle Munro is pleased to announce that it has advised Petromedia, a specialist provider of news and analysis for the shipping and oil industries on its sale to Platts, a business of McGraw Hill Financial. The Company was acquired for an undisclosed sum.
Founded in 2001, Petromedia provides customers with access to up-to-date news, daily prices and analysis on the global shipping and oil markets, including services to help manage counterparty risk, marine fuel quality monitoring, alternative marine fuel and technology awareness, and a bunker procurement platform.
Matt Cape, CEO of Petromedia, said: "We are excited to join the Platts team who can provide the expertise and scale to help Petromedia accelerate and broaden our product development as complexities within the shipping and oil markets continue to evolve."
Mark Perryman, Partner of Vine Street Capital, said: “The sale of Petromedia represents Vine Street Capital’s second exit of the year. Quayle Munro’s sector knowledge and support throughout the entire transaction process was essential in enabling us to find the right match for the business.”
Over the past seven years, Quayle Munro has advised on 19 transactions in the energy and commodities data & analytics, software and services sector concluding transactions with parties including Bloomberg, Dow Jones, IHS, Platts (McGraw Hill Financial), Reed Elsevier, Thomson Reuters and Wood Mackenzie.
