GMT-backed DOCUgroup completes bolt-on

Viktor Lundvall
10 August 2011

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GMT Communications Partners’ portfolio company DOCUgroup has acquired information and marketing service providers Sverige Bygger AB and Norge Bygges AS for a total consideration of €15.2m.

The acquisition has been funded entirely by internal financing and has not required additional investment by GMT. This is the 13th bolt-on for DOCUgroup, which GMT acquired in 2004. The previous bolt-on acquisition was completed in 2009 when GMT supported the acquisition of Reed Business Information, also known as Byggfakta Group. At the time GMT were looking to consolidate in the Nordic region and had Sverige Bygger and Norge Bygges in mind as potential acqusitions. However the companies were deemed to volatile at the time. Since then, the companies have matured and an agreement has now been reached.

The acquisition of Sverige Bygger and Norge Bygges strengthens the group's presence in the Nordic region and GMT was attracted to the deal because they believe there are strategic benefits to the bolt-on.

Sverige Bygger and Norge Bygges are providers of information and marketing services for the construction industry in Scandinavia. The companies gather information about developments in the construction industry such as construction projects, construction companies, tenders and procurements. In 2011, the companies are expected to generate consolidated annual revenue of €8.4m. Sverige Bygger and Norge Bygges were established in 1994.

DOCUgroup was founded in 2001 and supplies the construction industry with information regarding building projects, building materials and products, investment projects and market news. Headquartered in Wiesbaden, Germany, DOCUgroup also has subsidiares in Austria, Switzerland, Sweden, Norway, Finland, Denmark and the Czech Republic. When GMT acquired the company in 2004 it was generating revenue of €15m. This has grown to be approximately €121m following the latest bolt-on.

Jeff Montgomery and Sebastian Sipp worked on the transaction for GMT Communications Partners. Advisers in the deal were Hawkpoint, Mannheimer Swartling, CMS Cameron McKenna and PwC.