{"id":1004240246,"date":"2018-07-05T04:34:26","date_gmt":"2018-07-05T12:34:26","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004240246"},"modified":"2022-12-08T14:57:23","modified_gmt":"2022-12-08T22:57:23","slug":"fortive-to-acquire-gordian-for-775m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/fortive-to-acquire-gordian-for-775m\/","title":{"rendered":"Fortive to Acquire Gordian for $775M"},"content":{"rendered":"

By Barbra Murray<\/em><\/p>\n

\"construction<\/a><\/p>\n

Fortive Corp. will soon become owner of Gordian, a top provider of construction cost data, software and service. Having signed a definitive agreement with private equity firm Warburg Pincus LLC, the diversified industrial growth company will acquire Gordian for $775 million in cash.<\/p>\n

\u201cThe pending acquisition of Gordian advances our portfolio enhancement strategy to invest in software enabled workflows to increase our growth profile while reducing cyclicality,\u201d<\/em> James Lico, president & CEO of Fortive Corp., said in a prepared statement. <\/p>\n

Gordian, which has been in business for more than 70 years, established the industry\u2019s first procurement platform. The company\u2019s wide range of services spans all phases of the building lifecycle, including planning, design, procurement, construction and operations. Ultimately, Gordian will be integrated into Fortive\u2019s Field Solutions platform within its Professional Instrumentation segment.<\/p>\n

Credit Suisse acted as financial advisor to Fortive on the transaction with Warburg Pincus, and WilmerHale served as legal counsel. Fortive expects the acquisition of Gordian to close in the third quarter of 2018.<\/p>\n

Right move, right time<\/strong><\/h2>\n

Among the analysts with favorable views of the Gordian deal is RBC Capital Markets LLC. \u201cThe acquisition is a foot in the door for Fortive in the $1.5 billion facilities maintenance and management segment within the $20 billion total addressable construction software market,\u201d<\/em> per a note published by the global investment bank.  \u201cThe addressable market of Gordian is growing high-single-digits, and is primarily focused on the RMA (repair, maintenance and alteration) segment of the construction market, which tends to be less cyclical than new starts.\u201d<\/em><\/p>\n

Fortive\u2019s planned purchase of Gordian appears to be a timely move as well. According to a real estate and construction forecast by global consulting firm Deloitte, the trends real estate companies should be focusing on in 2018<\/a> all concern real estate technology.<\/p>\n

Image via Creative Commons<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The diversified industrial growth company will purchase the construction cost data, software and service provider from Warburg Pincus in an all-cash transaction. <\/p>\n","protected":false},"author":969,"featured_media":1004240252,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21748,21783,23891,21742,21787],"tags":[34106,32782,33813],"class_list":["post-1004240246","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-industrial","category-investment","category-national","category-latest","category-technology","tag-credit-suisse","tag-deloitte","tag-rbc-capital-markets"],"acf":[],"yoast_head":"\nFortive to Acquire Gordian for $775M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/fortive-to-acquire-gordian-for-775m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fortive to Acquire Gordian for $775M\" \/>\n<meta property=\"og:description\" content=\"The diversified industrial growth company will purchase the construction cost data, software and service provider from Warburg Pincus in an all-cash transaction.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/fortive-to-acquire-gordian-for-775m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-07-05T12:34:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T22:57:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/construction-technology-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/fortive-to-acquire-gordian-for-775m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/fortive-to-acquire-gordian-for-775m\/\",\"name\":\"Fortive to Acquire Gordian for $775M - 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