McGraw Hill Financial is considering selling its US-based auto research specialist JD Power and Associates for up to $1 billion, according to an exclusive report published by Reuters.
Founded by James David Power III and his wife Julie in 1968, the firm conducts customer satisfaction surveys, buyer behaviour analysis, and product quality audits for clients in the automotive and other fields. Sold to McGraw Hill Financial in 2005, it is headquartered in Westlake Village, California and employs around 7,000 analysts, statisticians, and consultants from twelve offices globally.
Reuters reports that McGraw Hill has commissioned Morgan Stanley to help with the sale process, and says JD Power may appeal to private equity firms, as well as companies in the automotive sector such as Cox Enterprises which owns online car marketplace Autotrader; and car auction firm Manheim Auctions.
Web site: www.jdpower.com .
All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.