Reed Business Information (RBI) 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.”
Source: Reed Business Information