iSqFt and CMD Announce Agreement to Merge
04 August 2015 - 11:52PM
Business Wire
iSqFt and CMD Group (CMD) today announced the companies have
merged. CMD is one of the leading providers of construction
information in North America. iSqFt provides the commercial
construction industry a leading software-as-a-service solution in
addition to bid information both powered by a vast network of
construction professionals across the United States. Terms of the
agreement were not disclosed.
The combination brings together businesses with
complementary strengths in different segments of the construction
sector, creating an organization with an enhanced product offering
for customers and a strong technology platform focused on
innovation. After the merger is completed, the combined
organization will provide comprehensive construction data and
software solutions for customers across North America.
Dave Conway, President and CEO, iSqFt, will serve as the CEO of
the combined company.
“CMD has established an excellent track record providing
high-quality data, information and insights to the construction
industry across North America,” Conway said. “With our shared
commitment to customer service and product delivery, this merger
fits into our long-term strategy to leverage the best of our
combined companies to provide improvements on our already great
data and deliver innovative solutions.”
“iSqFt and CMD share highly complementary capabilities which,
brought together, will build on our firms’ reputations for
outstanding customer service and will create exciting opportunities
for our employees,” said CMD CEO Graeme McCracken. “We have great
respect for the iSqFt team and the software and data solutions they
provide, and we are excited about what we can achieve together as
one team.”
CMD, formerly Reed Construction Data and Construction Market
Data, is owned by Warburg Pincus, a leading global private equity
firm focused on growth investing, and Reed Business Information.
Warburg Pincus will continue to be a shareholder in the combined
company.
“We are excited about the combination of iSqFT and CMD and look
forward to partnering with the management teams to support the
company’s growth initiatives,” said Warburg Pincus Managing
Director Alex Berzofsky.
“We have been very pleased with the progress that iSqFt has
made, including introducing new technology tools and solutions to
enhance the customer experience,” commented Genstar Managing
Director Eli Weiss. “This merger with CMD, which has established an
equally impressive track record in the construction sector, will
position the combined company well for continued growth.”
The combined company will be headquartered in Cincinnati,
Ohio.
About CMD
CMD is a leading North American provider of construction
information. CMD’s diverse portfolio of innovative products and
technologies includes national, regional and local project leads,
marketing solutions and market intelligence to provide insight to
construction industry professionals throughout the U.S. and Canada.
Visit the CMD website at cmdgroup.com.
About iSqFt
Cincinnati-based iSqFt is a leading software-as-a-service
company, serving the commercial construction industry by offering
its customers access to a network that connects hundreds of
thousands of general contractors, subcontractors, manufacturers and
suppliers. iSqFt helps its customers thrive by offering the
information and tools they need to work more efficiently and
profitably. For more information about iSqFt and its applications,
visit isqft.com.
About Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm
focused on growth investing. The firm has more than $35 billion in
assets under management. The firm’s current 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 14 private equity funds, which
have invested more than $50 billion in over 720 companies in more
than 35 countries. The firm is headquartered in New York with
offices in Amsterdam, Beijing, Hong Kong, London, Luxembourg,
Mauritius, Mumbai, San Francisco, São Paulo and Shanghai. For more
information, please visit www.warburgpincus.com.
About Genstar Capital
Genstar Capital (www.gencap.com) is a leading private equity
firm that has been actively investing in high quality companies for
more than 20 years. Based in San Francisco, Genstar works in
partnership with its management teams and its network of operating
executives and strategic advisors to transform its portfolio
companies into industry-leading businesses. Genstar manages funds
with total capital commitments of over $3 billion and targets
investments focused on selected sectors within the financial
services, software, industrial technology, and healthcare
industries.
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For CMD GroupMike Rieman, 404-419-9230Cell:
678-467-9297mrieman@cookerly.com