Hamilton-based construction industry analytics firm Dodge Data & Analytics is merging with a New York-based construction database business, the two announced Thursday.
The combination with the Blue Book Building & Construction Network was facilitated by Dodge’s owner, private-equity firm Symphony Technology Group. It will result in the Dodge | Blue Book Construction Industry Database, which will contain more than 10 billion data elements on the sector.
“The Blue Book is one of the most respected brands in the construction industry, providing an indispensable resource for construction professionals to find one another to facilitate the connections necessary to deliver commercial construction projects,” William Chisholm, managing partner at STG, said in a prepared statement. “Combining the Blue Book with our existing portfolio company, Dodge, the market leader in construction project information, allows us to create an indispensable resource for every firm on a local, regional or national level.”
Dodge CEO Daniel McCarthy will lead the combined company, while Blue Book President and General Manager Brian Tonry will continue in those roles. Former Blue Book CEO Richard Johnson will assist with the combination and serve on the board of directors. The combined company will have more than 1,200 employees.
“The construction industry is undergoing a major digital transformation across the entire business lifecycle, and uniting Dodge and the Blue Book will provide construction business leaders the data and digital connections that help fuel their growth,” McCarthy said in a statement. “We’re confident that our combined offering will be unmatched.”
Company headquarters will remain in Hamilton, with the Blue Book’s former headquarters in Jefferson Valley, New York, serving as a primary office for the company.
Owl Rock served as administrative agent and sole lead arranger for debt financing, while Paul Hastings and Shearman & Sterling acted as STG’s legal advisers.