GMT makes acquisition through DOCUgroup

Private equity group GMT Communications Partners has acquired Scandinavia-based Sverige Bygger and Norge Bygges through its portfolio company DOCUgroup for euro15.2 million (£13.3 million).

It is DOCU’s 13th bolt-on acquisition since GMT purchased the platform in 2004.

Sverige Bygger and Norge Bygges provide information and marketing services to the construction industry in Scandinavia and are forecast to generate consolidated annual revenue of €8.4 million this year.

DOCU supplies industry information about building projects, building materials and products, investment projects and market news.

Revenue at the combined business is expected to reach €121 million.

Jeff Montgomery, managing partner at London-based GMT, says the deal has strengthened its presence in Scandinavia.

‘The continued growth of DOCUgroup demonstrates our ongoing commitment to investing in businesses with powerful web-based models and the potential for international expansion,’ he continues.

According to a statement, the acquisition of the businesses will allow the expansion of subscription volumes and activities, such as industry events.

The deal is GMT’s second acquisition in 2011, following the buy-out of Meeting Zone in July, and the carve-out in April of the legal, tax and accounting information business of Thomson Reuters in Denmark and Sweden, recently renamed Karnov Group.

GMT has also exited two portfolio investments in the past year – German cable operator PEPcom in August 2010, and online gaming company Bigpoint in April this year.

Todd Cardy

Todd Cardy

Todd was Editor of between 2010 and 2011 as well as being responsible for publishing our digital and printed magazines focusing on private equity and venture capital.

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