Who owns J.D. Power and Associates?
The identity of the company that funded the sale of J.D. Power and Associates to the XIO Group is unclear, according to reports. J.D. Power is a market research firm that conducts surveys of customer satisfaction and product quality. The most heavily promoted J.D. Power ratings are those conferred in the automotive industry.
The mysterious XIO Group is based in Hong Kong. Xie Zhikun, a Beijing tycoon, took credit for funding the deal that enabled XIO to buy the former family business, but representatives from XIO denied the claim.
The XIO Group purchased J.D. Power in 2016, when many cash-rich Chinese firms were buying foreign companies. According to the reports, since the purchase XIO has put the J.D. Power into "very high" debt as judged by the risk management firm Moody's Analytics. Moody's has also downgraded the company's credit rating.
The Power family sold the company to McGraw Hill in 2005 and now collaborate on investments and philanthropy through a family office. Read Family Business Magazine's in-depth profile of the Power family.