DOCUgroup, a provider of business information to the European construction sector, has acquired the Nordic assets of Reed Business Information. No financial terms were disclosed. DOCUgroup is a portfolio company of GMT Communications Partners.
GMT Communications Partners (“GMT”), the leading European independent private equity group focused exclusively on the communications sector, has acquired the Nordic assets of Reed Business Information (the “Nordic Assets” and “Reed” respectively) through its portfolio company DOCUgroup (“DOCU”). The value of the transaction has not been disclosed.
DOCU is one of the leading business information providers in the construction sector in Europe, with operations in Germany, Switzerland and Sweden.
Reed’s Nordic Assets are the perfect complement to its services, being the market leader in the provision of construction project information and a suite of industry-recognised, web-related content and tools in Sweden, Finland, Denmark and Norway.
The acquisition of the Nordic Assets represents DOCU’s twelfth bolt-on acquisition since GMT acquired the platform in 2004.
DOCU’s management has been able to act early in this difficult environment to create cost efficiencies and the company is well placed to take advantage of further attractive bolt-on acquisitions to build market share.
Hawkpoint advised GMT on the transaction; Weil, Gotshal & Manges and Mannheimer Swartling provided legal advice to GMT.
Jeff Montgomery, Managing Partner at GMT Communications Partners commented:
“With the acquisition of the Reed Nordic Assets, DOCU becomes the leading construction information provider in Scandinavia. This transaction, following on from the acquisition of fe.bis in April, represents the next important stage in its active roll-up programme and we are delighted for DOCU as it continues to strengthen its geographical reach. Once integrated, the group will be in an ideal position to achieve its ambitious plans to become the largest provider of business information to the construction industry in Europe.”
Peter Schmitz, Chief Executive Officer of DOCUgroup commented:
“This merger was long desired. Now we can use two complementary information services for enhanced marketing solutions, steering them towards specific target groups and even customising them for our clients.”
For further information please contact:
Equus (for GMT):
Piers Hooper +44 (0)20 7223 1100
Clare Simonds +44 (0)20 7223 1100
Barbara Richter +49 (0)611 204 28 541
About GMT Communications Partners (www.gmtpartners.com)
GMT Communications Partners is a European independent private equity group focused exclusively on the communications sector, having actively invested in the European marketplace for the past 16 years. GMT is focused on providing buyout and expansion capital for high growth companies. As industry practitioners, GMT focuses heavily on developing new strategic directions for established businesses that are able to benefit from new communication technologies. Since its foundation in 1993, GMT has invested in 28 companies and completed over 90 bolt-on acquisitions across 18 countries, exclusively in European media/communications.
About DOCUgroup (www.docugroup.info)
The international DOCUgroup is an amalgamation of media and service companies for the construction industry. The company is primarily focused on the new-build market and operates product and project information services, plus a suite of magazine titles. DOCUgroup is one of Europe’s leading providers of specialised information for the architecture, construction and real estate sectors. With its B2B and B2C services and media, DOCUgroup provides current information regarding private and public construction projects, building products, investment projects, subsidies, industry news and news from the world of architecture.