This article is from the Australian Property Journal archive
GLOBAL facilities manager UGL Limited has bolstered its real estate and property services businesses with the acquisition of DTZ for £77.5 million ($A119 million) from the administrators.
DTZ was placed into administration in the United Kingdom prior to the acquisition by UGL under a pre-pack transaction.
DTZ first traded in 1784 and today operates in 145 cities across 43 countries, the business consists of six services: Occupational & Development Markets, Professional Services, Valuation, Investment Agency, Investment & Asset Management and Consulting & Research.
The agency is one of the world’s largest valuers, undertaking valuations in excess of $A380 billion annually.
In addition, DTZ’s real estate and asset management businesses have $10 billion under management.
UGL’s managing director and CEO Richard Leupen said the acquisition will transform UGL’s property services business into one of the world’s largest, broadening its geographic footprint across Asia, the UK, Europe, Middle East and Americas.
The combination of UGL Services and DTZ will have annual revenues of $A1.9 billion making UGL services one of the largest participants in the global property services sector.
Following the acquisition, UGL will have combined annual revenues of $A5.1 billion.
Goldman Sachs acted as exclusive financial adviser to UGL on the acquisition.
PropertyReview
