- Warburg Pincus acquires 51 percent stake in Reed Construction Data
- The Gordian Group, a portfolio company of Warburg Pincus, acquires a 100 percent stake in RSMeans
Reed Business Information (RBI) today announced the sale of a 51 percent stake in Reed Construction Data (RCD) to Warburg Pincus, and the sale of 100 percent of RSMeans to The Gordian Group, a portfolio company of Warburg Pincus. RSMeans will separate from RCD and fully merge with The Gordian Group.
Alex Berzofsky, Managing Director, Warburg Pincus said: “We are excited about partnering with the management teams and employees of RCD and RSMeans. For RCD, customers will continue to benefit from RBI’s involvement and Warburg Pincus’ commitment to investing, innovating and growing the business. For RSMeans’ customers, the combination with The Gordian Group brings together the leading construction cost businesses in complementary markets that will enhance and create better products and tools for the end market.”
“Working with Warburg Pincus, a prestigious private equity partner, will provide Reed Construction Data and RSMeans with additional expertise and support to maximize growth potential as the market continues to rapidly evolve,” said Mark Kelsey, Chief Executive of Reed Business Information.
“The merger of RSMeans with The Gordian Group, under the ownership of Warburg Pincus, provides a great platform for both these businesses to accelerate growth. The newly combined business will continue to work with RCD to provide differentiated data and analytic solutions to the North American construction sector. Both Warburg and Reed Business Information believe this is a winning combination.”
About Warburg Pincus
Warburg Pincus is a leading global private equity firm focused on growth investing. The firm has more than $37 billion in assets under management. Its active portfolio of more than 120 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 13 private equity funds that have invested more than $48 billion in over 700 companies in more than 30 countries. Since inception, the firm has invested more than $15 billion in technology, media and technology-enabled and data-driven companies, including investments in 58.com (NYSE: WUBA), BEA Systems, Endurance International Group (NASDAQ: EIGI), FIS (NYSE: FIS), iParadigms, MLM Information Services, Nuance Communications (NASDAQ: NUAN), VERITAS Software and Wall Street Systems. The firm is headquartered in New York with offices in Amsterdam, Beijing, Frankfurt, Hong Kong, London, Luxembourg, Mauritius, Mumbai, San Francisco, Sao Paulo and Shanghai. For more information, please visit www.warburgpincus.com.
About The Gordian Group
The Gordian Group (www.TheGordianGroup.com) created Job Order Contracting and a number of related construction-procurement systems, including ezIQC®. Gordian combines industry-leading expertise, software and the world’s largest, locally priced task database to deliver rapid deployment and long-term cost savings in the repair, alteration and construction of buildings and infrastructure.
About Reed Construction Data
Reed Construction Data, a division of Reed Business Information and the Inaugural Strategic Partner of the American Institute of Architects, is a leading North American provider of construction information. Reed Construction Data provides actionable insight to construction professionals through a diverse portfolio of innovative products and services, including national, regional and local construction project data, accurate and reliable construction cost data, effective marketing solutions and dynamic market intelligence. To learn more about Reed Construction Data, visit www.reedconstructiondata.com.
About Reed Business Information
Reed Business Information provides information and online data services to business professionals worldwide. Customers have access to our high-value industry data, analytics, information and tools. Our strong global brands hold market-leading positions across a wide range of industry sectors including banking, petrochemicals and aviation where we help customers make key strategic decisions every day. Visit www.reedbusiness.com. RBI is part of Reed Elsevier, a world leading provider of professional information solutions.
About Reed Elsevier
Reed Elsevier Group plc is a world leading provider of professional information solutions. The group employs approximately 28,000 people of whom half are in North America. Reed Elsevier Group PLC is owned equally by two parent companies, Reed Elsevier PLC and Reed Elsevier NV; the combined market capitalisation of the two parent companies is approximately £20bn/€24bn. Its shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RUK and ENL.