Platts Acquires Eclipse Energy Group, Deepening Its Analytical Expertise in European Gas, Power and Global LNG Markets Deal Supports Strategy of Linking Price and Fundamentals to Provide Unique Insights
LONDON, July 17, 2014 /PRNewswire/ -- Platts, a leading global energy, petrochemicals, metals and agriculture information provider, announced today that it has acquired London-based Eclipse Energy Group, a privately owned provider of data and analysis on the European gas, power and global liquefied natural gas (LNG) markets. The acquisition will enable Platts, a business of McGraw Hill Financial (NYSE: MHFI), to combine Eclipse Energy's analytics with Platts' pricing information to help market participants understand the impact of events and the drivers of price.
Terms of the deal were not disclosed.
"With the acquisition of Eclipse Energy, Platts continues to build on its successful track record of adding analytical capabilities and fostering emerging benchmarks, as well as strengthening its global footprint in key markets," said Douglas L. Peterson, President and Chief Executive Officer of McGraw Hill Financial. "Through both organic growth and strategic acquisitions such as Eclipse Energy, we expect Platts to continue to contribute to the strength of McGraw Hill Financial's portfolio."
"Eclipse Energy brings extensive knowledge and expertise in the European gas and power markets; a reputation for timely, accurate and actionable data and analysis, including forecasting; and a strong track record of market-led product development," said Larry Neal, President of Platts. "The acquisition furthers Platts' strategy of linking price information and market fundamentals to expand our offerings, much as our acquisition of Bentek Energy did in 2011 for North America."
Eclipse Energy was founded in 2002 by Robert Minsaas and John King, and has offices in London, Norway and Singapore. The company provides price forecasts, scenarios, country analysis, fundamental market data, news and commentary on gas and power markets in the U.K. and Europe to a blue-chip client base of energy companies and financial institutions. Its Xplore online analytics platform provides proprietary data, analysis and forecasts for traders. Eclipse Energy also has an advisory business focused on investment and decisions support to the global LNG, European gas and power markets, and recently launched its Global LNG service, which provides global fundamentals, weekly market observations, and a contracts and project database via the Xplore platform.
"We're excited to be joining Platts," said Mr. Minsaas, Group Managing Director of Eclipse Energy. "Together, Eclipse Energy and Platts will uniquely cover the North American energy market through Bentek, the European market through Eclipse Energy and jointly the global LNG market. This positions us to be in front of the growing demand for more sophisticated and in-depth data and analysis in the European gas and power markets." Mr. Minsaas and Mr. King will remain with Eclipse Energy in management positions following the acquisition.
About McGraw Hill Financial: McGraw Hill Financial is a leading financial intelligence company providing the global capital and commodity markets with independent benchmarks, credit ratings, portfolio and enterprise risk solutions, and analytics. The Company's iconic brands include Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, J.D. Power and McGraw Hill Construction. The Company has approximately 17,000 employees in 29 countries. Additional information is available at www.mhfi.com.
About Platts: Founded in 1909, Platts is a leading global provider of energy, petrochemicals, metals and agriculture information and a premier source of benchmark prices for the physical and futures markets. Platts' news, pricing, analytics, commentary and conferences help customers make better-informed trading and business decisions and help the markets operate with greater transparency and efficiency. Customers in more than 150 countries benefit from Platts' coverage of the biofuels, carbon emissions, coal, electricity, oil, natural gas, metals, nuclear power, petrochemical, shipping and sugar markets. A division of McGraw Hill Financial, Platts is based in London with approximately 900 employees in more than 15 offices worldwide. Additional information is available at http://www.platts.com.
Emily Fredrix Goodman
SOURCE McGraw Hill Financial