US McGraw-Hill Companies Inc (NYSE:MHP) said its New York-based energy and petrochemicals arm Platts had finalised the purchase of Swiss price information and analytics provider Kingsman SA.
The buyer unveiled the deal on 11 October without giving information on its value.
The acquisition brings additional capabilities in biofuels and skills in fundamental market analysis, as well as gives the company access to the agriculture markets, Harold McGraw III, chairman, president and chief executive of The McGraw-Hill Companies, said in a comment. According to Platts’ president, Larry Neal, the acquired business will complement Platts’ expertise in reporting news, assessing prices and explaining the factors driving those prices.
Set up in 1990, Lausanne-based Kingsman offers subscription publications covering sugar, ethanol and biodiesel. Its client base includes producers, traders, refiners, financial institutions and end-users in key markets including Bangkok, London, Montreal, New Delhi and Sao Paulo. Kingsman has become part of Platts’ new agricultural group and will continue to operate under the same brand.
New York-based Platts, which was founded in 1909, provides energy, petrochemicals and metals intelligence as well as benchmark prices for the physical and futures markets. It has a staff of 900 in more than 15 offices worldwide. Its parent is currently working on separating into two companies: McGraw-Hill Financial, which provides content and analytics to global financial markets, and McGraw-Hill Education, which focuses on digital learning and education services worldwide.