Architectural Record sold to West coast private equity group

Media, National, News
Tuesday, September 23, 2014
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arch-record-sold

Architectural Record along with its sister construction publication, Engineering News-Record, and other products, Dodge and Sweets, have been sold to Symphony Technology Group (STG), a “strategic private equity firm” in Palo Alto, California, for $320 million. McGraw Hill Construction, the current owner of these publications, announced in a market-jargon-filled press release today that, while there were multiple prospective buyers, they sold to STG because that company understands how to build on McGraw Hill’s “storied past of nimbly adapting to changing market conditions and pursuing new growth opportunities in the construction market.” STG has a global portfolio of 22 companies with a combined revenue of $2.7 billion and 17,000 employees. Will Cathleen Mcguigan and her editorial team be leaving their Pennsylvania Station tower for the green lawns of the Silicon Valley soon?

McGuigan Tapped to Lead Arch Record

 

Cathleen McGuigan (Courtesy Architectural Record)

For a 120-year-old magazine, Architectural Record went impressively new-fangled in announcing its new editor-in-chief, Cathleen McGuigan, with word leaking out on Facebook Monday followed by rounds of Twitter and a formal blog posting at the Arc Rec website this morning.

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