The Gordian Group, a provider of pricing data, procurement software and services for the construction industry and facility owners, announced today the acquisition of RSMeans from Reed Construction Data, a division of Reed Business Information. RSMeans is a supplier of construction cost information, has been a trusted name in construction cost estimating solutions for more than 70 years.
“The Gordian Group and RSMeans are leaders in their respective fields, and today marks the beginning of a significant opportunity to leverage that combined expertise to deliver even greater value to the construction industry,” William Pollak, CEO of The Gordian Group, stated. “We are confident that our collective clients and partners – cooperative buying groups, contractors, and resellers – will benefit enormously from the joining of these two great companies.”
Reed Business Information (RBI) today announced sale of a 51 percent stake in Reed Construction Data (RCD) to Warburg Pincus. RSmeans will separate from RCD and fully merge with Gordian group, who purchased a 100 percent stake in the construction cost database and information service. Gordian Group is a portfolio company of Warburg Pincus, which has purchased a controlling interest in RCD, including its other assets such as the Reed Insight construction estimation product.
“We are excited about partnering with the management teams and employees of RCD and RSMeans,” Alex Berzofsky, Managing Director, Warburg Pincus said in a press release. “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.”