Tue, 10 May 2022 | MERGER
Diversified professional services and investment management company, Colliers has announced today it has acquired a majority interest in Paragon Building Consultancy Holdings Limited.
Project management firm, Paragon is one of the UK's largest independent building and project consultancies and will now become part of Colliers’ existing project management business.
“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 maximise the potential of our clients’ assets and properties.”
The deal will mean that Paragon’s senior management team will remain and lead the combined operations and a combined team of 213 which will grow Colliers’ capabilities in the core discipline of project and building consultancy. Paragon co-founding partner John Munday, will take on the role of Co-Head of the combined business. He said: “Our partnership with Colliers is the next step in our firm’s evolution especially given our shared culture and commitment to service excellence. This transaction marks a significant milestone for Paragon and will help propel our growth in the coming years.”
Paragon, which has six offices across the UK in London, Bristol, Manchester, Leeds, Edinburgh and Esher was established in 2009 by ten founding partners and provides project management, project monitoring, cost management, building surveying and due diligence services.
Paragon’s co-founding partner Robert Perry, will join John Munday as Co-Head of the combined business. He said: “Colliers’ well-known global brand and platform, and strong client relationships both locally and internationally, unlock many new opportunities for us. 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.”
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