Building consultancy Paragon joins global player Collier
Paragon has been acquired by Colliers for an undisclosed fee. The move sees the independent building consultancy added to Colliers’ existing European project management business.
Diversified professional services and investment management company Colliers boasts operations in 62 countries. Its 17,000 professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, its experienced leadership with significant inside ownership has delivered compound annual investment returns of 20% for shareholders – a profile which motivated Paragon to strike a deal.
“Colliers’ well-known global brand and platform, and strong client relationships both locally and internationally, unlock many new opportunities for us,” said Paragon co-founding partner Robert Perry. “Colliers has a strong entrepreneurial culture, together with the scale, financial resources, and industry leadership we were looking for in a partner. Leveraging all that Colliers has to offer will be of great advantage to our company, its professionals, and partners in the years to come. We could not be more excited about our prospects for the future.”
Launched by Perry and co-founding partner John Munday in London in 2009, Paragon’s 150 professionals spread across six UK offices provide building surveying, project management, environmental assessments, and energy & sustainability consulting to owners, investors, and users of real estate. Paragon will be combined with Colliers’ existing project management business bringing scale and additional capabilities in the UK and Europe.
Paragon’s senior management team will lead the combined operations and retain significant equity going forward under Colliers’ unique partnership model. This will see Perry and Munday act as Co-Heads of the combined business. Financial terms were not disclosed.
“Our new partnership with Paragon strengthens our capabilities within the UK and extends our reach into Europe allowing us to better serve our clients’ needs,” said Tony Horrell, Chief Executive Officer of Colliers | UK and Ireland. “Paragon’s reputation in the industry is second to none, and this acquisition represents Colliers’ continued commitment to providing best-in-class services to maximize the potential of our clients’ assets and properties.”
Global alternative asset management, investment banking, and credit portfolio advisory firm Alantra advised the shareholders of Paragon on the move. Richard Sanders, a Partner at Alantra, led the deal supported by Julian Ayisi, Associate and Julia Hussein, Analyst.
Sanders noted, “Paragon is now one of the UK’s largest independent building and project consultancies with a reputation for excellent service delivery. Partnering with Colliers will significantly enhance both companies’ building and project consultancy capabilities.”
According to Sanders, the transaction also underlines Alantra’s expertise in the consulting and built environment sectors. It is the latest in a series of deals Alantra has overseen in the space, including advising Foster + Partners on a strategic partnership with Hennick & Company, Raynsway Properties on its sale to Boundary Real Estate Partners, and Palatine on its acquisition of a majority stake in Jessup.
