GVA in major merger deal

GLOBAL property giant Avison Young has signed a deal to buy GVA early next year from private equity firm EQT.

GVA, which has a base in Birmingham’s Brindleyplace, offers property services including planning and management and employs 1,500 people in 15 offices in the UK, Ireland and Poland.

Carl Potter, GVA senior regional director for the Midlands, said: “GVA is a great business that has found a truly wonderful long-term home and we are merging with a partnership that has terrific values and a culture that is really close to our own.

“This merger provides us with an exceptional worldwide platform across 25 countries and provides clients with additional choice and provides our people with the opportunity to grow their careers in a stable and forward looking growth environment.”

Avison Young currently has 2,700 staff in 85 offices across the world.

Including GVA Worldwide, the com- bined operations will have 5,000-plus staff in more than 120 offices across 25 countries.

Gerry Hughes, chief executive of GVA, said: “We could not have asked for a better outcome for the GVA business, our clients and our staff.

“We now enter a new era as a key component of a global real estate advisory platform, which will allow us to further flourish and better serve global clients.

“I look forward to joining the Avison Young partnership and working with Mark, and I want to thank EQT for the support and opportunities it has given to GVA over the last few years.”

Mark Rose, Chairman and CEO of Avison Young, said: “This is a transformational event that underpins our ambition and intent to significantly expand our footprint in Europe and beyond.

“Avison Young’s UK business will now be a genuine challenger brand firmly established among the top commercial real estate advisors in the UK, North America and the world.”