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?

Eavesdrop NY 20

Eavesdroplet
Friday, December 4, 2009
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Zaha at the Sistine Chapel, on her way to an audience with the pope. (Courtesy Zimbio)

Zaha at the Sistine Chapel, on her way to an audience with the pope. (Courtesy Zimbio)

NORBERT HAS LEFT THE BUILDING
Two issues ago, we brought your attention to a lawsuit in which Reed Construction Data accuses the McGraw-Hill Construction Group of industrial espionage, mail fraud, and racketeering. Norbert Young, president of the construction group, which includes Architectural Record, was mentioned twice as the alleged spy supervisor. Since then, an internal memorandum on November 9 seems damning in its terseness: “I wanted to inform you that Norbert Young has left The McGraw-Hill Companies.” That’s it. No reason given, no thank you for years of service—just the name of the person-in-charge-for-now and a boilerplate pledge to sound leadership and innovation. Cold. Read More

California: From Bad To Worse

West
Wednesday, July 15, 2009
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Just when it looked like things might be getting better, the California construction outlook for the year, it appears, has gone from bad to worse. According to McGraw-Hill Construction’s 2009 California Construction Outlook: Mid-Summer Update, the state’s budget crisis has had a nasty effect on our industry, “reducing state tax revenues and worsening the state’s construction declines.” The report says that construction starts for the state are expected to drop 22% in 2009 to $36.5 billion. Here are some of the sobering figures in the report: Read More

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