Randall-Reilly, the B2B media company based in Alabama, US, has acquired the Asset Intelligence Group (AIG) of listed UK group Informa Plc, which offers price data, information and analysis to the construction equipment and commercial vehicle sectors. The deal includes the brands Equipment Watch, Price Digests and FleetSeek. The newly acquired brands are said to complement the existing brands of Randall-Reilly, including EDA and Rig Dig, and equipmentexperts.com. Randall-Reilly is backed by Aurora Capital Partners.
The Atlanta-based AIG, which was believed to have revenues of some $30-40m, has comprised: the US brands Equipment Watch and Cost Trax in construction, and Fleet Seek and Price Digests in trucking; and the UK construction data Barbour ABI and Barbour EHS (health and safety intelligence) which has been separately sold. The construction assets may account for more than 70% of the group’s revenue, mostly in the US.
The divestments help to strengthen the balance sheet at a time when Informa’s dominant trade show division is only now starting to recover after the paralysis of the pandemic.
Although this week’s sale price has not been disclosed, Informa says that the combined proceeds of the divestment of Barbour ABI, AIG, and Barbour EHS earlier in the year has totalled £275m – apparently equivalent to 16 x EBITDA. A good price, of course, though insiders had suggested the US business might achieve a multiple closer to the data company Rouse Services which was this year acquired by online construction equipment auctioneer Ritchie Bros for $275m – about 30 x EBITDA. Subscriptions are hot.
