Pfingsten Publishing Acquires Spectrum Business Communications

Posted on November 9, 2000

Pfingsten Publishing, L.L.C., a business-to-business publishing company headquartered in Cleveland, has announced the acquisition of Spectrum Business Communications, Inc., of Fort Atkinson, Wisconsin, a publisher of trade magazines for the industrial market.

Spectrum publishes MRO Today and Progressive Distributor for purchasers, suppliers and distributors of maintenance, repair and operations products, Contractor Tools & Supplies for purchasers of construction products, and Productivity for decision makers involved in improving material handling at manufacturing and warehouse facilities.

Effective October 31, 2000, the purchase is a strategic acquisition designed to add a new vertical platform to Pfingsten's portfolio of publications. Pfingsten currently serves the financial services market with Life Insurance Selling, American Agent & Broker and Mortgage Originator. It also addresses the art marketplace with Decor magazine for art and framing retailers, the Decor Expo series of trade shows, and the art21 series of fine art shows.

``The acquisition of Spectrum and its four publications allows us to enter the industrial market with considerable breadth of content and multiple revenue streams,'' said Joseph M. Bennett, President of Pfingsten Publishing. ``It is a strong addition to our portfolio and one that gives us an excellent springboard for further expansion.''

The three principals and 27 employees of Spectrum have joined the Pfingsten Publishing organization. They will continue to operate out of Spectrum's Wisconsin offices.

``Joining forces with Pfingsten gives us an opportunity to accelerate the growth of our business,'' said Robert B. Lederer, formerly president of Spectrum Business Communications and now group publisher in charge of Pfingsten's industrial publications. ``By combining our strengths with Pfingsten's financial resources and publishing competencies, we expect to be able to build an increasingly larger presence in specialty publications aimed at the needs of industry.''



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