TORONTO – Avison Young, a Canadian commercial real estate firm, has acquired London-based Haywards LLP as a first move into the European market.
The deal will also add 20 employees to Toronto-headquartered Avison Young, which has about 1,500 real estate professionals in Canada and the United States.
Financial terms weren’t disclosed.
Four leading members of Haywards will become principals at Avison Young and oversee the U.K. offices.
Nick Cook, of Haywards, will be managing director of the Avison Young offices in London and Thames Valley. He’ll also lead expansion efforts in the United Kingdom.
Mark Rose, the chair and chief executive of Avison Young, says his firm’s strategy has long been to use London and the U.K. as a launch pad into Europe and to service assignments from North America.
“The opportunity to maintain highly successful ongoing operations in the Thames Valley is a value-added bonus and gives us a head-start on future expansion elsewhere in the U.K.,” Rose said in a statement Tuesday.
Note to readers: This is a corrected story. An earlier version said the statement was issued on Wednesday.