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Mar 08

Advised the shareholders of Heren Energy on the company's acquisition by Reed Business Information

Quayle Munro is pleased to announce it has advised the shareholders of Heren Energy Limited ("Heren"), the leading publisher of European gas, power and carbon market information, on its sale to Reed Business Information ("RBI").  The transaction completed today; terms were not disclosed.  Quayle Munro led the negotiations, structuring and execution of the transaction on behalf of Heren.

Patrick Heren founded Heren in 1993 with the goal of providing independent price assessments and indices to Europe’s wholesale gas and power markets.  These impartial gas and power indicators are now recognised as industry benchmarks, and are used extensively throughout Britain and Europe for short and long-term contracts.  They also form the basis for retail market gas and power tracker tariffs for key industry players including nPower and Centrica. By providing transparency and standardisation, Heren’s data and services are vital to the efficient functioning of liberalising energy markets.

As part of Reed Elsevier Group plc, Reed Business Information UK brings over 100 market leading brands to an audience of 30 million decision makers worldwide through its multi-platform media of web products, magazines, exhibitions, conferences and industry awards.  Heren will become part of ICIS, RBI’s commodity market information business, benefiting from the global network of ICIS offices.

Michael Doyle, Managing Director, Quayle Munro, said:
"Heren Energy provides critical market information and pricing data which are fundamental to the functioning of energy markets in Europe.  The company’s long-standing reputation for quality and consistency make it a pivotal player in this strategically important and growing market segment.  RBI is a leading publisher of business critical information, and will give Heren added marketing and commercial muscle, allowing it to continue to grow as part of a company that understands the competitive value of quality data.”

Patrick Heren, Founder and CEO, said:
“This is an exciting opportunity for Heren Energy. The global reach of ICIS will bring significant benefits to the Heren business and customers as well as providing the framework of a large organisation to facilitate organic growth.”

Christopher Flook, ICIS Publishing Director, said: 
“The acquisition of Heren Energy Ltd provides ICIS with a strong opportunity to extend our footprint outside of petrochemicals and into other energy markets.  There are strong synergies between ICIS and Heren, driven by Heren’s first mover advantage in this market and strong reputation and the ICIS core competencies of price reporting, online content delivery and web marketing.”

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