01 May, 2017, 07:00 ET
HOUSTON, May 1, 2017 /PRNewswire/ -- Gulf Publishing Company announced today the acquisition of Oildom Publishing Company of Texas, Inc. to create the world's largest independent media company devoted exclusively to the international energy industry.
Through the acquisition, Gulf Publishing Company enhances its presence in the midstream and utility sectors with three well-known industry trade journals and two major industry conferences.
"The addition of Oildom is part of our strategic plan to expand as the leading provider of business and technical knowledge in the global oil and gas industry," said John Royall, president and CEO of Gulf Publishing Company. "We are the go-to resource for our clients and Oildom's people, products and services are an excellent complement to our organization as they extend our global leadership to the midstream and utility sectors."
Last year, Gulf Publishing Company's management team completed a buyout of its energy information business from its former London-based parent to create an independent Houston-based company. The company continues to publish its three energy magazines including World Oil, Hydrocarbon Processing and Gas Processing, and through its management buyout added the London-based oil and gas business and strategy journal Petroleum Economist. Today's acquisition of Oildom adds Pipeline & Gas Journal, Pipeline News and Underground Construction to Gulf Publishing Company's portfolio.
Gulf Publishing Company also produces events and data intelligence for the energy industry. The acquisition of Oildom includes the Underground Construction Technology International Conference for those involved in building and maintaining underground infrastructure, and the Pipeline Opportunities Conference, the only event dedicated solely to the pipeline industry.
Family-owned Oildom Publishing was founded by the grandfather of Oliver Klinger III who retired as owner and president through the acquisition. He will remain involved in a consulting and advisory capacity.
"My main objective in transitioning ownership of Oildom is to ensure the continuation of the legacy started by my grandfather 109 years ago," said Klinger. "With Gulf Publishing Company, we have found a capable and knowledgeable home for our employees, readers and advertisers."
Oildom's Publisher Cleve Hogarth will continue in his role and is confident in the continued growth of the combined organization.
"The acquisition by Gulf Publishing Company is the right thing for Oildom and it comes at the right time in our rich history," said Hogarth. "Combining with Gulf Publishing's strong capabilities in digital, data management and global reach allows us to take the Oildom media brands to the next level."
The acquisition was led by Royall and Houston investor Russell Denson, with financing from Main Street Capital Corporation. Denson is a veteran of the publishing industry and serves as chairman of Gulf Publishing Holdings, the parent company of Gulf Publishing Company.
"Oildom is an excellent publisher and has been the leader in its field under the ownership of Ollie Klinger and the direction of Cleve Hogarth," said Royall. "The expanded resources of our organization will help grow existing products and launch new products. We are very excited about this acquisition and what it means for the future of Gulf Publishing Company."
Gulf Publishing Company is exhibiting at the 2017 Offshore Technology Conference in Houston, May 1-4, at the World Oil booth #1905.
About Gulf Publishing Company
For more than 100 years, Gulf Publishing Company has been the leading provider of business and technical knowledge for the global oil and gas industry. Since its formation in 1916, the company has evolved from a single publication—The Oil Weekly, which was dedicated to upstream activity in the Gulf Coast area of the United States—to a diversified information company, with coverage spanning the upstream, midstream and downstream. Headquartered in Houston, Gulf Publishing Company produces seven trade journals for the oil and gas industry: World Oil, Hydrocarbon Processing, Gas Processing, Petroleum Economist, Pipeline & Gas Journal, Pipeline News and Underground Construction.
Judi Martin, JM Group
SOURCE Gulf Publishing Company
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