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Global Energy Decisions LLC Acquires Henwood Energy Services
Boulder, Colorado and Sacramento, California - October 16, 2002 - - Global Energy Decisions, LLC, a recently formed energy information holding company, today announced that it has acquired Sacramento-based Henwood Energy Services, a leading provider of information, software, and consulting products to the electric energy industry.
Global Energy Decisions is financially backed by Quadrangle Group LLC, a New York-based investment firm specializing in the media and communications industries. Through a combination of selective acquisitions and organic growth, Global Energy Decisions plans to establish a position of global leadership in information, analytics and service products to businesses serving the broader energy market. Henwood is Global Energy Decisions' first acquisition and will serve as the platform for future growth.
Ron McMahan, the CEO of Global Energy Decisions, is a nationally recognized expert in the areas of energy markets and policy and a pioneer in the area of energy information services. Dr. McMahan founded Resource Data International (RDI) in 1982 and later sold it to Pearson plc, where he served as CEO of Financial Times Energy through 1999, and was the architect of FT's dramatic growth in the energy information sector.
Henwood Energy Services is a leader in electric energy information services with over 350 customers in the United States, Europe, Australia and Asia. The company provides an integrated suite of software, information, and consulting products that address the industry's need to forecast pricing and demand, to measure and monitor portfolio risk, to trade energy, to schedule delivery, and to manage and optimize the performance of generation assets. Mark Henwood, CEO and President of Henwood Energy Services, will continue to lead Henwood and will join the Board of Directors of Global Energy Decisions.
Ron McMahan, CEO of Global Energy Decisions LLC, said, "Over the past 20 years I've seen tremendous change in the energy industry, but today the industry faces some of its greatest challenges ever. To succeed in this complex environment, companies will increasingly need access to reliable, timely information and analytical tools. The time is right to consolidate the highly fragmented energy information sector, and Global Energy Decisions will provide the vision and platform to serve this dynamic market." McMahan added, "I've known Mark Henwood for years and believe that he and his team have developed a suite of proven, state-of-the-art products. I am confident that their dedication to quality and their emphasis on customer service will guarantee their continued success."
Mark Henwood, CEO and President of Henwood Energy Services, said, "As the energy sector becomes more competitive and more diversified, there is an even greater need for innovative business solutions. The entire team here at Henwood will continue to innovate and to serve our clients' needs going forward. For us, a critical component of this transaction is Global Energy Decisions' strong commitment to these shared goals, and we are delighted that Henwood will be the basis for Global Energy's growth going forward."
David Tanner, Managing Principal of Quadrangle, said, "Ron McMahan is one of the most experienced and respected executives in this industry. We are delighted to be Ron's partner and are impressed with the business that Mark and his team have developed. We are confident that Global Energy Decisions will build a robust energy information business."
Global Energy Decisions has been formed by an experienced team of managers to build a diversified energy information business providing content, software and analytics to the global energy market. For more information, contact Ron McMahan at 303-444-2577.
Henwood Energy Services offers power generators, marketers, and retailers integrated EnerPriseTM Software solutions, comprehensive market intelligence data and information, and strategic consulting services to meet the challenges of traditional and restructured energy markets throughout North America, Australia Asia, and Europe. For more information why the top power companies rely on Henwood business solutions, call Chris Farrell at 916-569-0985 (e-mail email@example.com) or visit www.henwoodenergy.com.
Quadrangle Group LLC manages Quadrangle Capital Partners LP, a private equity fund that specializes in the media and communications industries. The firm also invests in financially troubled companies across industry groups through a separately managed distressed debt hedge fund. Quadrangle Group was founded in March 2000 by four former Managing Directors of Lazard Frères & Co. LLC who have more than 60 years of combined experience in private equity and in media and communications. The firm's advisory board and other investors include many prominent executives of leading media and communications companies. Contact Quadrangle at firstname.lastname@example.org.