News
GVA acquires Acuity Management Solutions from Broadgate Estates
This week GVA FM, the facilities management (FM) arm of the UK's largest independent commercial property consultant, has acquired Acuity Holdings Ltd from Broadgate Estates Ltd, together with 70 strong Acuity Management Solutions Ltd.
Acuity Management Solutions Ltd (a subsidiary of Acuity Holdings Ltd) turned over £14.5m in its 2010/11 financial year. The company provides occupier focused facilities management, project management and consultancy services to a range of blue chip clients throughout the UK.
This strategic acquisition marks another major statement of intent by GVA to grow its business following its recent acquisition of Humberts Leisure in May. This latest move will further establish GVA FM as one of the UK's leading FM consultancies.
Steve Lee, Managing Director of GVA FM comments: "This acquisition confirms our intent to grow GVA FM into a leading multidisciplinary support services company and the scale of this transaction marks a significant milestone on this journey. Acuity, with its in depth specialist expertise, offers a corporate occupier focus which will supplement our existing landlord focused business.
"We're delighted to welcome the Acuity team to GVA FM and look forward to working alongside our new colleagues."
Tony Burchett, Managing Director of Acuity comments: "The Acuity team is delighted to be joining GVA FM and we are confident this acquisition will enable us to strengthen and expand the range of services we can offer to our clients."
The Acuity team will continue to work with its existing clients and the majority of the 70 personnel will remain based in their existing locations. However a team of 20 will relocate from Broadgate to GVA's London Mayfair office.
Rob Bould, Chief Executive of GVA, comments: "We're delighted to have agreed terms with Broadgate for the acquisition of Acuity. This provides us with a strong platform from which to drive our ongoing growth strategy.
"This is a first class acquisition of what is undoubtedly a highly capable business with an occupier focus we can utilise and strengthen. This will build on the hard work and determination of our existing team which continues to grow from strength to strength. It also illustrates our leading approach to gaining sizeable market share through strategic acquisitions of robust businesses that are positioned in a way that allows for further expansion."
For further information please contact Steve Lee, Managing Director of GVA FM on 0207 911 2821 or steve.lee@gva.co.uk.
Ends -
For all GVA media enquiries, please contact:
Edward Dewar, National PR Manager on 020 7911 2664 or edward.dewar@gva.co.uk
GVA profile
GVA is one of the UK's leading property consultants operating from 12 offices with 890 fee earners generating a turnover of £129.5 million year ending 30 April 2010.
The company provides a full range of property-related advisory led services including agency, planning, development and regeneration, rating, building consultancy, investment, management, valuation and corporate recovery.
GVA also offers specialist advice in areas such as finance, economic and social policy, telecoms, education, healthcare, hotels and leisure, retail, sustainability, contamination, plant and machinery and the automotive and roadside sectors. For further information visit www.gva.co.uk
GVA is a founding member of GVA Worldwide, an international organisation serving key markets in over 25 countries. The organisation comprises of over 2,500 real estate professionals in over 85 markets worldwide.
A leading adviser in commercial real estate, GVA Worldwide optimises client portfolios locally and around the world. It serves the real estate needs of clients including multinational corporations, major space users, developers, owners, institutions, lenders and investors. For more information visit www.gvaworldwide.com
GVA FM profile
GVA FM is one of the UK's leading facilities management consultancies operating throughout the UK. It offers a full range of facilities services to owners and occupiers of office, retail, industrial and mixed-use space.
Following the subject acquisition GVA FM will turnover 25m per annum, employing 350 staff.
Acuity Management Solutions profile
Acuity is a 70 strong management organisation focused on the delivery of a broad range of property related services, primarily for occupiers in the office, arts and leisure sectors With offices in London and Staffordshire, but operating throughout the UK, Acuity provides both discrete and integrated services as consultants, project and facilities managers.