GVA, the London-headquarted real estate advisory business, is separating from its parent company, Apleona.
In a statement, GVA said the separation would allow the two businesses to focus on their respective core markets; GVA as a real estate advisory business and Apleona as a management services business.
With roots in the UK stretching back over 200 years, GVA became part of the property division of Bilfinger, a global engineering and service group 2014. Two years later EQT, a Swedish private equity firm, acquired Bilfinger Real Estate and rebranded it as Apleona. GVA had 12 offices and 1,500 staff around the UK, with a network of independently owned real estate companies in 25 other countries in Europe and beyond.
GVA will remain under EQT ownership. Strengthening the EQT governance structure, Andy Mottram, a former member of JLL's EMEA board, has been appointed to the role of chairman.
Gerry Hughes, chief executive at GVA, said: 'The separation is a significant development which gives us greater focus and control over the next phase of our growth. We now have a closer operational relationship with our shareholder, which will fast-track the delivery of our strategy.
'2017 was another strong year for GVA operationally and financially. As well as achieving our financial targets, we welcomed 25 new directors and senior directors to our business, and we are looking forward to accelerating our growth in 2018 and beyond.'
Mottram added: 'GVA is a great brand in the UK with a real sense of momentum. The firm offers a unique market proposition blending consultancy and transactional services across both the private and public sectors and its regional network is the envy of the market. I look forward to supporting Gerry and the team in the next phase of our journey.'
