EH Publishing becomes Major Shareholder in Peerless Media
April 30, 2010 Peerless Media today completed its acquisition of the four titles in the Supply Chain Group from Reed Business Information. Backing for the deal has come from EH Publishing.
The titles — Logistics Management, Modern Materials Handling, Supply Chain Management Review and Material Handling Product News — were among the 23 scheduled to be shut down by RBI. Peerless, a company formed by the former management of the Supply Chain Group, announced last week it had entered into an agreement in principle to purchase the brands.
EH Publishing provided “most of the financial resources,” to complete the deal, says EH Publishing CEO Kenneth Moyes. “Basically, [Peerless] is an entity that EH is a majority owner in,” he said, declining to provide further detail on his company’s stake.
EH operates in five markets—consumer electronics, house of worship, live sound, robotics, and IT — and Moyes says there is “peripheral” overlap in some areas with the Peerless titles.
EH will also provide the back office infrastructure for Peerless. The group is in the process of locating new office space and will be located close or commingled with the EH offices in Framingham, says Moyes.
About Peerless Media
Founded in 2010, Peerless Media is the leading provider of independent business content and information serving the supply chain, logistics, materials handling and design engineering industries. Through our flagship brands (Logistics Management, Modern Materials Handling, Supply Chain Management Review, Material Handling Product News, Supply Chain 24/7, and Desktop Engineering), we offer unparalleled B2B coverage via publications, Websites, newsletters, conferences, and research. Visit www.peerlessmedia.com.
About EH Publishing
EH Publishing, Inc. is the leading provider of independent business and consumer content and information serving the custom electronics, information technology, house of worship, pro audio, robotics, homebuilding, and supply chain markets through multimedia publications, websites, newsletters, and expos. Our flagship multi media products include CE Pro, Commercial Integrator, Electronic House, Electronic House Expo (EHX), Explore3DTV.com, ChannelPro-SMB, Live Sound International, ProSoundWeb.com, Worship Facilities Conference & Expo (WFX), Robotics Business Review, RoboDevelopment Conference and Exposition, RoboBusiness Conference and Exposition, Supply Chain Management Review, Logistics Management, and Modern Materials Handling. www.ehpub.com.