Detroit, MI– The American Gear Manufacturers Association (AGMA) Board of Directors voted unanimously to purchase the assets of Randall Publications, a 34-year old privately-held media company based in Elk Grove, IL. Purchased assets include Gear Technology magazine, Gear Technology India magazine, Power Transmission Engineering magazine, a 10,000 record online technical database, all related web sites, and 23,000+ record, combined circulation list. Terms of the sale were not disclosed.
“Gear Technology and Power Transmission Engineering are the pre-eminent technical publications serving the entire power transmission technology supply chain, and AGMA is thrilled to bring these properties in house as we strive to deliver value to the industry we serve,” said John Cross, AGMA Chair and President of ASI Drives. “We thank Michael Goldstein for bringing the opportunity to AGMA to consider and feel this investment fits into our long-term strategy of being at the center of power transmission innovation.”
Randall Publications was started in May, 1985 with the creation of Gear Technology magazine. Over time, the publication’s stature increased as it focused on technical developments across the machine tool and gear cutting segment. As the industry evolved to include the full supply chain, Randall added Power Transmission Engineering to its magazine lineup. In addition, Randall developed an online database of publicly available technical white papers and information and grew it to a 10,000-record library that is the most visited area of the company’s websites.
“One of the most important things I considered in approaching AGMA, was how could I best continue the legacy of delivering technical value to the industry, and AGMA was a perfect fit,” said Michael Goldstein, Publisher and Editor-in-Chief Gear Technology and Publisher, Power Transmission Engineering. “In addition, the GT Library has become a powerful resource for global technical excellence, with over 11,000 unique visitors a month. I am confident AGMA and the GT/PTE team will grow and prosper working directly with the gear community.”
As part of the deal, AGMA will now have an eight-person Chicago office, with Randy Stott serving as Managing Publisher for both magazines, and serving as a Vice President within AGMA. AGMA will maintain its 13-person headquarters in Alexandria, VA. All personnel will be part of the AGMA team beginning on January 1, 2020, the date in which the deal commences.
About AGMA
“In an industry where traditional technical boundaries and segments continue to merge and blend, it’s critical that AGMA stays at the center of all things power transmission,” said Matthew E. Croson, President of AGMA. “Standards, education, training, relationships, business intelligence and emerging technology are not as siloed as they once were. With this acquisition, AGMA will be able to connect the power transmission dots, and combine the power of these media properties with Motion + Power Technology Expo, our market reports and affiliated association partnerships, as we create synergy and opportunity for industry to express their innovation via AGMA events and publications.”
For any questions regarding the purchase, please email Matthew Croson at croson@agma.org.
