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Dec 07

Advised the shareholders of The McCloskey Group Ltd on its sale to IHS Inc

Quayle Munro, leading international corporate finance advisers in media, information and technology, is pleased to announce it has advised the shareholders of The McCloskey Group Ltd ("McCloskey"), the world's largest coal markets information, publishing and research firm, on its sale to NYSE-listed IHS Inc ("IHS").  IHS is a leading global source of critical information and insight in a broad range of industries.  Quayle Munro was appointed earlier this year as sole advisor to the shareholders of McCloskey, advising them on their strategic options for the business.  Quayle Munro led the negotiations, structuring and execution of the transaction.

IHS acquired McCloskey for approximately £14.4 million in an all-cash transaction.

McCloskey's information, insight and news is used throughout the £45bn international coal market, and the $250bn coal derivatives market, with an unrivalled reputation for reliability and market awareness.  The Group was founded in 1987 to provide the Financial Times with coal- and energy-related newsletters.  Based in Petersfield, UK, today McCloskey's customers range from coal producers, traders and shippers to consumer blue-chip companies.  Its offerings include print and online publications, annual conferences and consulting services.

As part of IHS, McCloskey will be managed within Cambridge Energy Research Associates (CERA).  McCloskey's reporting team will remain unchanged.

Gerard McCloskey, The McCloskey Group founder, Chairman and CEO, said:
"Our sale to IHS supports our goal of extending our reach into other energy sectors and adds significant marketing and commercial strength and expertise.  We were delighted with the insight, professionalism and commitment van Tulleken were able to bring to the sale process.  They are a truly impressive outfit with an unrivalled set of contacts and reputation across the industries they serve."

Andrew Adams, Managing Director, Quayle Munro,  said:
"McCloskey is an excellent business with attractive prospects and van Tulleken is delighted to have advised the shareholders on their sale to IHS.  Coal provides 25% of global primary energy needs and generates 40% of the world’s electricity, with growth driven by emerging markets and the strength of world energy demand.  McCloskey’s expertise and information is critical for anyone involved in the coal market.”

Key Transactions