Savills agree €67 million fee for Spanish consultancy Aguirre Newman

11 August 2017

UK-based real estate advisory Savills has agreed to a €67 million price tag to move forward with the acquisition of Aguirre Newman. The prominent independent Spanish advisory also operates in the real estate sector, and the deal not only absorbs a key competitor, but enables Savills to move forward with expansion into the EU market.

Founded in 1988 in Madrid by Santiago Aguirre and Stephen Newman, Aguirre Newman is one of Spain’s largest local players in the real estate sector, with 400 staff and offices in Madrid, Barcelona, Málaga, and two office in Portugal. The growing independent offer a full range of real estate consultancy services, as well as brokerage, amid a Spanish property market and broader Spanish economy which are rapidly on the rise in mainland Europe. The acquisition by Savills will subsequently give the firm a foothold in what is proving to be a bullish market, while the professional services group also hope their clients will benefit from their expanded pool of talent.

Real estate consultancy Savills already has a presence in Spain, with offices in Barcelona and Madrid, and 70 members of staff at the firm’s command. The deal suggests Savills is optimistic about the Spanish real estate market, while and keen to strengthen its ties with the EU member state post-Brexit.

Savills agree €67 million fee for Spanish consultancy Aguirre Newman

With negotiations between Britain’s government and the EU taking an increasingly hostile tone meanwhile, the purchase also aids plans to strengthen cross border opportunities for UK-based Savills, who have collaborated extensively with Aguirre Newman in the past. The two had worked on different projects since almost Aguirre Newman were founded, so with already strong synergies reportedly in place between the two companies, the acquisition means Savills arguably had a ready-made surrogate to navigate the EU market beyond 2019.

The €67 million acquisition fee will be made payable in instalments over five years from completion. The deal is scheduled to completion by 30th November 2017 following satisfaction of customary regulatory and closing conditions, at which point the new company will begin operating under the name of Savills Aguirre Newman.

Santiago Aguirre, President and co-founder of Aguirre Newman, commented, “This is a great opportunity for us to build on our strong position in the market and benefit from being part of one of the leading global brands in the industry. The collaborative skills and capabilities of both firms will allow us to better service our current and future clients. Savills existing team are well known to us and there are firm synergies and a similar work philosophy between our teams that will create a very strong new organisation and a leading force in the industry.”

Rafael Merry del Val, head of Savills Spain, reinforced why this was the right move for Savills meanwhile, stating, “Now is absolutely the right time to take our business forward in a stronger market and more stable economy. Our experience and high specialisation in this market under a successful boutique model based on entrepreneurship, will perfectly combine with Aguirre Newman’s leading position and strength, creating an incredibly powerful brand that merges the best of both models.”


SQW Group purchases property-based regeneration consultancy

19 April 2019

UK consulting firm SQW Group has completed its first acquisition since it completed a management buyout in January 2019. BBP Regeneration joins the company having collaborated with SQW for more than 20 years.

Established in 1983, SQW Group now operates all over the world. Comprising SQW, Oxford Innovation, Oxford Innovation Services – one of the UK’s leading innovation centre operators – and Oxford Investment Opportunities Network, the organisation’s origins can be traced to Britain’s two ancient university cities: Oxford, through Oxford Trust founders, Martin and Audrey Wood, and Cambridge, through SQW’s work in producing The Cambridge Phenomenon.

The consultancy specialises in public policy, working with entities from the public, private and voluntary sectors to research, develop, implement and evaluate social and economic development interventions. It now employs over 250 people across regional offices in London, Oxford and Edinburgh, and provides business support to over 4,000 entrepreneurs and small businesses each year. At the start of 2019, SQW secured its independence in a management buyout, advised on by M&A experts from Liberty Corporate Finance and Penningtons Manches.

SQW Group purchases property-based regeneration consultancy

SQW has strengthened its position as a provider of services across the business spectrum with the acquisition of BBP Regeneration. Founded in 1994, the consulting firm specialises in land and property-based regeneration and growth schemes, and is a leading social and economic development consultancy. 

The two firms first worked together over 20 years ago, when SQW and BBP collaborated to develop the first Regional Economic Strategy for the South East. More recently, they developed an economic strategy for Thanet and are now working together in locations stretching from Cwmbran via Oxfordshire to London.

With the addition of BBP, SQW can now provide an integrated advisory service for organisations developing property schemes which deliver economic benefit to their local area. By joining SQW, meanwhile, BBP hopes to further enhance its ability to support clients in delivering property and place-making ambitions. 

Speaking about the deal, SQW CEO David Crichton-Miller commented, “The UK more than ever needs solutions to the challenges of places – of high streets under threat, of meeting housing delivery targets, and of both economically over-successful and economically challenged towns and cities – and the combination of SQW and BBP is uniquely suited to developing those solutions. [This deal] brings together critical and complementary services relating to places to serve our clients with leading edge and practical advice.”

Andy Smith, Director of BBP Regeneration, added, “SQW shares with BBP the same values of seeking to provide outstanding, practical, real world advice that helps get buildings built and places developed.  We greatly look forward to the opportunities that come from joining our two organisations together.”