Apleona Limited (“Apleona”), an EQT VII portfolio company, today announced that it has entered into a definitive agreement with Avison Young (Canada) Inc. (“Avison Young”), a Canada-based commercial real estate firm, under which Avison Young will acquire Apleona’s subsidiary, GVA.
GVA was acquired by EQT as part of Apleona in September 2016. UK-based GVA is a multi-disciplinary business offering clients advisory services that span the entire property life cycle from strategy and planning through to delivery. The firm has 1,500 employees in 15 offices in the UK, Ireland and Poland.
Mark Rose, Chair and CEO of Avison Young, comments: “We couldn’t be more excited to welcome GVA to Avison Young. This is a transformational event that underpins our ambition and intent to significantly expand our footprint in Europe and beyond. Avison Young and GVA have complementary businesses in the UK, and this combination of expertise and talent will better equip us to serve global clients.”
Gerry Hughes, CEO of GVA, comments: “To say I am delighted by this deal is an understatement. 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.”
Andreas Aschenbrenner, Partner at EQT Partners, Investment Advisor to EQT, adds: "We are thrilled to have found the perfect long-term home for GVA in Avison Young, which is committed to continuing the growth strategy that GVA embarked on under EQT ownership. I am confident that GVA and Avison Young together will flourish, and I am excited to see GVA and Avison Young grow further to become one of the leading real estate advisors worldwide. The sale also marks another important step in transforming Apleona into the leading European provider of real estate management services.”
The transaction is expected to close during the first quarter of 2019, subject to the satisfaction of customary approvals from governmental and regulatory bodies.
EQT was advised by BofA Merrill Lynch (M&A) and Milbank, Tweed, Hadley & McCloy LLP (Legal).
Dr. Andreas Aschenbrenner, Partner at EQT Partners, Investment Advisor to EQT, +49 89 2554 9943
EQT Press Contact, +46 8 506 55 334
EQT is a leading investment firm with approximately EUR 50 billion in raised capital across 27 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
More info: www.eqtpartners.com
GVA is a leading real estate advisory business with 15 offices and 1,500 staff in the UK, Ireland and Poland. With its in-depth understanding of the market, supported by a leading research capability, GVA advises private businesses and the public sector on the whole real estate lifecycle. GVA is an independent group under the ownership of EQT Partners.
More info: www.gva.co.uk.
About Avison Young
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 2,700 real estate professionals in 85 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial, multi-family and hospitality properties.
More info: www.avisonyoung.com
Apleona is a leading European real-estate services provider based in Neu-Isenburg near Frankfurt. Approximately 20,000 employees in more than 30 countries operate, manage, expand and equip real estate in all asset classes, operate and maintain plant and assist customers in a whole host of industries with production and secondary processes. The Group's range of services extends from integrated facility management, building technology and interior fittings to real-estate management with all commercial services, letting, leasing and marketing of real estate. All services are provided on a modular basis or in an integrated package. In a regional or supra-regional account structure according to customer requirements, country-specific and service-specific operating companies ensure optimum performance and a uniformly high standard of quality across national borders. Apleona’s customers include leading industrial companies, investment funds, insurance companies, banks, the public sector, developers, owners and users.
More info: www.apleona.com