Avison Young completes takeover of property consultancy GVA
Avison Young has completed its takeover of property consultancy GVA in a move which establishes the company as one of the largest commercial real estate advisory businesses in the UK.
The deal was agreed in November with the two combining under the one unified brand. Avison Young’s operations now have 19 offices and 1,600 employees in the UK alone.
GVA brings a broad portfolio of national and international clients, including public institutions, multinational corporations, major space users, developers, owners, lenders and investors.
The management team for the new entity includes Avison Young principal and UK managing director Jason Sibthorpe as principal and president; GVA chief executive Gerry Hughes as principal and managing director of UK and global consultancy; and GVA chairman Andy Mottram as principal and managing director of Europe.
Avison Young chairman and chief executive Mark Rose said: “This acquisition represents another milestone in our global expansion strategy and the combination will better position Avison Young to serve our clients across the world.
“We are now 5,000-strong, having nearly doubled our size and ability to provide clients with whatever they need, wherever in the world they need it. In GVA, Avison Young has added a like-minded UK real estate leader – a company that brings a partnership culture formed during more than 200 years in business.”
Hughes added: “Overnight, the ambitious growth strategy that I set out for our business three years ago has been achieved and we can now serve our clients as a global full-service business, with an enviably strong consultancy and transactional offer.
“The ability to provide such advice on a global scale is extraordinary and I look forward to helping to deliver that potential.”
Credit Suisse and KPMG LLP acted as Avison Young’s financial advisers in the acquisition of GVA. Gowling WLG (UK), DLA Piper LLP (US and UK) and Stikeman Elliott LLP (Canada) served as Avison Young’s legal advisers.