Although MB Media participated in informal talks with Cygnus Business Media, Hanley Wood and other b-to-b media companies, the recently formed company had previously said it had enough capital to go it alone without a sale to an established company. The deal with Scranton Gillette indicates that MB Media opted for the stability of an established company and against the creation of its own back-office capabilities, including a digital presence, from scratch.
“SGC's long history of financial stability, the ability to build an entrepreneurial division within SGC and the robust capabilities of the company made it a natural choice for the MB Media construction group brands,” MB Media CEO Tony Mancini said in a statement.
Mancini and MB Media President Rick Blesi will maintain an equity stake in the properties. Mancini and Blesi were publishing executives at RBI's Reed Construction Media before acquiring the properties two months ago.
“We are enthusiastic about this opportunity to expand our service to construction professionals,” Scranton Gillette President-CEO Edward Gillette said in a statement.
“Ed and his team at SGC listened to our vision,” Blesi said. “We leverage great people and infrastructure, but control the destiny of the brands.”
The new LLC includes the following properties: Building Design+Construction, Construction Bulletin, Construction Equipment, Custom Builder, Housing Giants, Professional Builder, Professional Remodeler, SpecCheck, www.BDCnetwork.com, www.ConstructionEquipment.com, www.HousingZone.com, www.LogInAndLearn.com and www.VisibleCity.com.