Teesland has acquired Partnership Incorporations, the operator of collective property investment schemes, for £2m. Teesland will pay £1.75m in cash, £335,00 in shares and a further deferred consideration of £350,000, subject to targets for the generation of new business over a period of 24 months. Partnership Incorporations has operated or advised on over £5bn worth of transactions to date, and currently manages over £2bn of investments. Clients include the Royal Bank of Scotland, AXA REIM and Jones Lang LaSalle. Marcus Shepherd, finance director of Teesland, commented: “Given our ambitious plans for significant expansion into new areas geographically and new real estate asset classes through the introduction of a series of new funds in the UK and Europe, this is a very important acquisition. The team at PIL have an excellent track record and significant expertise which will help drive the growth of Teesland”.