MIPIM 2016: More mergers and acquisitions in the property advisory arena are “inevitable”, according to John Forrester, Cushman & Wakefield’s EMEA chief executive.
C&W completed its merger with DTZ in September last year and with numerous firms considering restructurings and acquisitions, consolidation is necessary in order for companies to match the needs of both their occupational and investor clients, according to Forrester.
“The consolidation of the industry as a whole started quite some time ago and is never going to stop. Our clients across the world are wanting more, and in more places across the world. In order to do that we have to make sure the organisation doesn’t have weaknesses and can deliver wherever needed. The world is consolidating and will continue to do so,” he said.
Forrester expects C&W to be an active M&A player, using backing from its owners TPG, PAG and Teachers’ Pension Plan.
“We have a platform and a financial structure that allows us to participate where we see the opportunity to make the company better.”
As a result of the merger, Forrester said that this year’s MIPIM was “the most exciting of the 27 years I’ve been coming down here.”
To send feedback, e-mail david.hatcher@estatesgazette.com or tweet @hatcherdavid or @estatesgazette
Click here for all the news, views and analysis from MIPIM 2016
