Sawyer Group sees acquisition of UK-based GVA by Avison Young as an important step in the development of GVA Worldwide net and wide perspectives for its further expansion and strengthening.
Apleona Limited (“Apleona”), an EQT VII portfolio company announced that it had 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.”
The transaction is expected to close during the first quarter of 2019, subject to the satisfaction of customary approvals from governmental and regulatory bodies.