Commercial real estate services firm DTZ announced on Monday that it is now operating with US broker Cassidy Turley as a single global firm following the completion of the acquisition of Cassidy Turley by the private equity investment consortium backed by TPG Capital, PAG Asia Capital and Ontario Teachers’ Pension Plan.

Commercial real estate services firm DTZ announced on Monday that it is now operating with US broker Cassidy Turley as a single global firm following the completion of the acquisition of Cassidy Turley by the private equity investment consortium backed by TPG Capital, PAG Asia Capital and Ontario Teachers’ Pension Plan.

The consortium acquired DTZ in November 2014.

The combination of Washington, DC-headquartered Cassidy Turley Cassidy Turley and DTZ creates a 'global top-three commercial real estate services company', DTZ said in a statement.

The agent now provides clients with additional capabilities across more than 30 US markets in addition to its already established capabilities throughout Europe and Asia. The unified company represents $2.9 bn in annual revenues and more than 28,000 employees and now manages 3.3 billion sq ft globally on behalf of institutional, government, corporate and private clients.

As announced previously, Tod Lickerman will be the global CEO of the integrated company. Joseph Stettinius Jr., Cassidy Turley’s CEO, is now CEO of the Americas, while Brett White, former CEO of CBRE Group, who also invested in the acquisition, will become full-time executive chairman in March.

'The combination of our two companies under new ownership has immediately enhanced our ability to meet our clients’ needs with speed, efficiency and flexibility - service qualities that are unique among global firms our size. The new DTZ combines the capabilities of a world-class firm with the client experience of a smaller, more nimble and more tenacious organization,' commented Tod Lickerman.

'This combination is an excellent cultural fit and mutually beneficial for both companies, given our strong position in the US market and DTZ’s global footprint,' added Cassidy Turley’s CEO Joseph Stettinius, Jr.