The Builder Group's portfolio of events will be integrated into CMP Information (CMPi). These include the Building Awards, Construction Health & Safety Awards and the World Architecture Awards. Its publications include Building, Electrical Profile and Housing Today although CMPi said there were no plans to launch exhibitions off the back of the titles.
"Aprovia will increase our share of this market, which is estimated at £140m annually, to more than 30%," said CMPi chief executive Bernard Gray.
"The acquisition is an excellent fit with CMPi and takes us into a leading industry position in the media market for the construction industry."
The acquisition comes as UBM unveiled interim results for the first six months of the year. CMPi's turnover soared 70% to £4.4m but revenue fell sharply, down 14.8% to £58.7m compared with £68.9m in 2002. At the start of the year UBM shut its CMP Europe offices and moved its portfolio of shows to CMPi's Property Group (Event, February).
"CMPi's profits in the second half will be boosted by recent acquisitions," said UBM chief executive Lord Hollick. "In 2004 these are expected to contribute operating profits of £9m."