Canadian agency Avison Young is in talks to buy niche Midlands partnership North Rae Sanders as it continues its drive into the UK market.
The deal, which has not yet been finalised, would be the latest in a string of acquisitions by the North American giant, which first entered the European market with the purchase of Thames Valley sp
ecialist Haywards in April last year.
NRS, which has offices in London and Coventry, specialises in the industrial sector as well as office and mixed-use development. It employs eight people, including four partners.
The company was jointly founded by current partner Robert Rae and former partners Michael North and William Sanders in 1991.
The firm has been courted by several agencies keen to increase market share in the industrial and Midlands markets.
NRS ranked seventh in EGi Research’s niche sheds league table in H1 2015, with 3.4m sq ft of disposals and an average deal size of 117,896 sq ft.
It was the top ranked agency for disposals in the West Midlands and second in the East Midlands.
Avison Young turned over more than £150m globally in the past year under chief executive Mark Rose.
In the UK it is led by Nick Cook, who is managing director of the London and Thames Valley offices.
Other key hires since the firm entered the UK include former Strutt & Parker partners Alasdair Gurry and Ben Hutcher; Mark Holliday and Richard Worrall from Chestertons; Robert Smith from DTZ; and Graham Halkyard from Selsby Consulting. It has also acquired distressed portfolios specialist Jorden Salata.
The firm employs more than 2,000 staff across 71 offices in Canada, the US and Europe.
AGENCY MERGERS IN 2015
January JLL buys property consultancy arm of accountancy and advisory firm Mazers.
March Montagu Evans announces merger with Blue Sky Planning.
Lambert Smith Hampton buys ES Group.
April Lambert Smith Hampton buys Tushingham Moore.
May Savills acquires Collier & Madge.
June Savills acquires Smiths Gore.
July Lambert Smith Hampton acquires Douglas Newman Good Commercial.
Strutt & Parker buys Roberts Newby.
Capita buys GL Hearn.
August Legat Owen and Lamont Commercial merge to become Legat Owen (Inc. Lamont).
September Cushman & Wakefield and DTZ complete merger.
Colliers International acquires Ganly Walters Management.
CBRE buys Johnson Controls’ Global Workspace Solutions.
October Strutt & Parker acquires Edwards & Elliott.
Avison Young buys Jorden Salata.
