Byggfakta is acquiring Glenigan, the UK-based provider of construction and property business intelligence and data analytics, in its second UK deal in late 2020.
Norway-based Byggfakta Group has swiftly followed up on its first UK acquisition – of Newcastle-based construction technology and product data provider NBS in November 2020 (post) – by announcing on 15 December that it is buying Glenigan, the Bournemouth, Dorset-based provider of construction and property business intelligence and data analytics, for £72.9m (c. €81m or US$99m), subject to to European Commission Competition Approval.
CEO of Byggfakta Group, Stefan Lindqvist, right, says: “Glenigan is the UK’s leading company in construction project information, which is a core business for us, and a company that we have followed for a long time. We see great opportunities to launch new services and products in the markets where we are present today by using each other’s strengths. Glenigan is important to us in our efforts to become Europe’s leading player in digitizing the construction and real estate industries.”
Glenigan was owned by FTSE 250-listed information, data and analytics company Ascential, but Glenigan was not aligned with its strategic priorities in digital commerce. In 2019, Glenigan generated revenue of £12.2m; adjusted earnings before interest, tax, depreciation, and amortization before allocation of central costs was £6.8m.
Glenigan’s managing director, Vicci McEwen, says: “Ascential has been a happy home for us but joining the Byggfakta group will be a game changer. Byggfakta have a wealth of experience and success running lead businesses, just like ours, right across Europe and they truly understand our business model. Byggfakta is the home that I genuinely believe is the right one for Glenigan.”
