Savills has confirmed the acquisition of Collier & Madge, a niche commercial property management business founded in London 17 years ago.
Collier & Madge — which claims to have built its reputation “through quality staff, investment, organisation and unwavering commitment to our property company, institutional and private investors clients” — will merge its 30 staff with the global real estate services provider immediately.
Among the executives joining the London Stock Exchange listed Savills are chief executive Paul Holmes and board members John Redfern, Christopher Carrick, Peter Deehan and Aron Feeley.
Commenting on the take-over, Holmes said: “Joining Savills is a great opportunity which will bring many benefits to the clients of Collier & Madge who will have access to an extensive UK platform across all service lines. At the same time we look forward to working with the existing Savills team to strengthen the offer and grow in our key areas”.
Prior to the acquisition, his company’s client list included: Invesco Real Estate, Henry Boot, A&A Investments, City of London, Trust for London, GAT Investments, Dominvs, Schroders, Westmount Real Estate and Primary Health Properties.
Mark Ridley, Savills’ UK and Europe chief executive, said: “Collier & Madge is an established property managers with a strong track record. This acquisition will grow our existing London property management offer and allow clients to benefit from Savills wider service lines.”
Savills head of property management, Nick Herward, added: “Bringing in such a strong and experienced team who share our passion and commitment for the sector is a fantastic initiative and we are very much looking forward to working together.
“Our existing Central London team are a force to be reckoned with and this initiative confirms our intention to be the number one management provider in London and the regions.”
Although founded in London by Alfred Savill in the mid-1800s, the acquisitions trail is a relatively new strategy for a global business which now has more than 600 offices and associates throughout the Americas, Europe, Asia Pacific, Africa and the Middle East and employs over 27,000 staff.
In 1997 Savills merged with First Pacific Davies. The following year it bought a majority stake in the German, French and Spanish arms of Weatherall, Green & Smith. And in 2015 it took over its rival, the 160-year-old UK-based partnership of Smiths Gore for £40m.