STAMFORD, Connecticut, October 23, 2015 – Education Growth Partners (“EGP”), a growth private equity firm focused exclusively on the education industry, today announced the sale of its portfolio company Sightlines LLC (“Sightlines”), the leading provider of facilities benchmarking data and expertise to higher education institutions, to The Gordian Group, the leading provider of construction cost estimating data and analytics and procurement solutions. Financial details of the transaction were not disclosed.
For more than 15 years, Guilford, Connecticut-based Sightlines has been a trusted resource to over 450 campuses. The Company develops key metrics and provides analyses across high value operational areas such as (1) building asset management, (2) maintenance and operations, and (3) energy usage, helping colleges and universities manage their facilities and reduce operating costs.
“As industry leaders in both data, software and expertise, the integration of Gordian and Sightlines presents a significant opportunity to deliver a more unified suite of products to facility owners across a number of markets, including higher education, healthcare, and the public sector ,” William Pollak, CEO of The Gordian Group, stated. “The synthesis of complementary data across historically disparate processes will allow us to offer solutions for facility owners that address the construction and facility asset management lifecycle more comprehensively.”
Sightlines Executive Chairman and Founder, David Kadamus, added, “At the core of both The Gordian Group and Sightlines are the strength of their expertise, data, and commitment to providing the most accurate and relevant information to positively impact the way facilities are managed. We are excited by the opportunity this presents to accelerate the investment in our products and people, which will ultimately benefit our loyal members.”
Following the investment in Sightlines in 2011, EGP worked closely with Sightlines’ management team to support their rapid growth. Sightlines cooperative database on operations and facilities now consists of over 450 higher education campuses. Sightlines’ customer list includes 18 of the top 25 colleges, 16 of the top 25 universities, 9 of the 12 Ivy Plus, 13 of the 14 Big Ten, and flagship public universities in 32 states. The analytical rigor, consistent methodology, and focus on data quality that Sightlines’ applies to each of its customers have resulted in a member retention rate of over 92%.
“We are delighted in this outcome for both Sightlines and our investors” commented Peter Campbell, Managing Partner of EGP. “Gordian is the ideal partner for Sightlines going forward given their highly complementary strengths. It has also been a great pleasure partnering with Sightlines Founder and Chairman David Kadamus and CEO Mark Schiff in building out Sightlines. And – we are pleased to have the opportunity to continue our relationship with them via our new investment in The Gordian Group, alongside existing Gordian investor Warburg Pincus.”
About Sightlines LLC
Founded in 2000, Sightlines gives colleges and universities the independent data and perspective they need to make critical decisions about their most valuable assets – their facilities. Sightlines stewards the industry’s most extensive verified database, allowing more than 450 institutions across the U.S. and Canada to benchmark an institution’s facilities against universities and colleges across the nation. Sightlines’ flagship offering for members is ROPA+, a fully integrated solution for facilities intelligence that leads members through a comprehensive process of discovery, prediction and performance measurement. Other Sightlines solutions provide higher education executives with insights to assist with capital planning, space management and campus sustainability initiatives. For more information visit www.sightlines.com
About The Gordian Group
The Gordian Group is a leading provider of construction data, software and services that companies rely on to pursue efficient and effective construction planning, estimating and procurement. In its beginnings, Gordian pioneered Job Order Contracting (JOC), a method for planning and executing construction renovation, alteration and repair through its highly specialized cloud-software. In 2014 the company acquired RSMeans, a leader in data, analytics and life cycle cost analysis for commercial and residential construction. Today, The Gordian Group draws on its highly specialized engineers, software and unique proprietary data sets to solve the construction information, planning and management needs of people in building construction, building products manufacturing, education, healthcare, retail, insurance, legal and government. www.TheGordianGroup.com
About Education Growth Partners
Founded in 2011, Education Growth Partners is the premier growth private equity firm dedicated solely to providing growth capital to proven, high potential education services companies that offer compelling solutions addressing unmet needs in training and education. The firm leads growth capital financings, minority recapitalizations, and buyout of profitable, high growth companies in the Pre-K, K12, higher education, corporate and life-long learning sectors. The firm is headquartered in Stamford, CT. For more information visit www.edgrowth.com.