FOR IMMEDIATE RELEASE
Summit Business Media announces the acquisition of
Judy Diamond Associates
New York, NY, December 13, 2006 – William F. Reilly, Chairman and CEO of Summit Business Media, announced today the acquisition of Judy Diamond Associates (JDA).
JDA is a leading provider of information and database tools for the insurance and financial services industries. The company’s product line is based on comprehensive data sets of health insurance and pension plans held by corporations, as well as information on plan sponsors (the companies who offer benefit plans) and the brokers who sell them. Principal products include the American Directory of Group Insurance Plans, Broker/Carrier Market Share Data, The King of Pension Funds and the Employer Identification Number Finder. The company also offers a free website, www.free erisa.com, which provides consumers a free lookup service on basic benefit plan information on millions of companies and benefits providers.
“JDA is a well known and respected provider of high value information for the large and growing financial services market, making it an excellent strategic fit for Summit Business Media,” said Bill Reilly, Chairman and CEO of Summit.
“We are very excited to acquire this premier data provider to the employee benefits industry,” said Andrew L. Goodenough, President of Highline Media, a unit of Summit. “This is a very logical extension of our insurance data, employee benefit reference publishing and magazine brands. We welcome the entire JDA staff to our team here at Summit.”
Jeff Mathuran, Judy Diamond’s son and involved with the business for more than fifteen years, has been named head of the JDA business at Summit, reporting to Reilly Cobb, Vice President and Managing Director of Highline’s Insurance Data Division. Ms. Diamond, the founder of JDA, will continue on with the company as a consultant, with retirement expected at the end of the first quarter.
Founded in 1986, JDA is based in Washington D.C. and has 13 employees. At the end of this year, JDA, along with several Summit employees, will be moving into new quarters at 1130 Connecticut Avenue , N.W., Washington, D.C..
About Summit Business Media
Summit Business Media was recently formed through Wind Point Partner’s acquisition of Highline Media and Pfingsten Publishing in November 2006. Summit Business Media currently serves the insurance community with a number of well respected magazines such as Life Insurance Selling, American Agent & Broker, the National Underwriter Property/Casualty and Life/Health weeklies, conferences, reference materials and information databases. Additional information about Summit is available at www.sbmediallc.com and www.highlinemedia.com.
About Wind Point Partners
Wind Point Partners® is a private equity investment firm with $2 billion in capital under management. Wind Point focuses on partnering with top caliber executives to acquire solid middle market businesses with a clear path to value creation. Additional information about Wind Point is available at www.wppartners.com.