Shearman & Sterling is advising McGraw Hill on the sale of its McGraw Hill Construction division, which sells commercial-real-estate information to developers and manufacturers, to Symphony Technology Group in a transaction valued at $320 million, subject to certain adjustments. The closing of the transaction is subject to the satisfaction of customary closing conditions, including the expiration of the waiting period under the HSR Act. The transaction is expected to close in the fourth quarter of 2014.
McGraw Hill (NYSE: MFHI) is a leading financial intelligence company providing the global capital and commodity markets with independent benchmarks, credit ratings, portfolio and enterprise risk solutions, and analytics. McGraw Hill’s iconic brands include Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL and J.D. Power. McGraw Hill has approximately 18,000 employees in 30 countries.
Symphony Technology Group is a strategic private equity firm with the mission of investing in and building great software and services companies.
The Shearman & Sterling team includes partner Robert Katz, counsel Nathan Sawyer, and associates Derrick Lott (all New York-Mergers & Acquisitions) and Robert Giannattasio (New York-Corporate). Other lawyers involved in the transaction include partners Laurence Bambino (New York-Tax), Beau Buffier (New York-Antitrust), Kenneth Laverriere (New York-Executive Compensation & Employee Benefits), and Samuel Waxman (New York-Intellectual Property Transactions); counsel Jason Pratt (New York-Environmental); and associates Nell Beekman (New York-Executive Compensation & Employee Benefits), Timothy Haney (New York-Antitrust), Derek Kershaw (New York-Tax) and Joshua Steinberger (New York-Intellectual Property Transactions). Additional assistance was provided by partner Patrick Flanagan (Washington, DC-Finance) and associates Beverly Chang (Washington, DC-Finance), Elan DiMaio (New York-Antitrust), Joanna Si (New York-Mergers & Acquisitions) and Julia Twarog (New York-Corporate).