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Commercial real estate consultancy Colliers CRE plc has added two surveying firms to its portfolio after it bought Jansons and Paul & Company.

The combined consideration of the transactions was £3.9 million, which was paid in cash funded from the firm’s existing resources and through a share placing. Both transactions include deferred payments.

Jansons’ 25-strong team will become part of Colliers national business teams with the firm’s principals, Leonard Rosso and Andrew Butler, becoming head of Logistics & Industrial and head of its Uxbridge office respectively.

The acquisition of Paul & Co will complement Colliers CRE’s licensed and leisure department. Post completion, the business will retain its offices in Wetherby and Glasgow while its Bristol team will move into Colliers’ existing office in the city. 

Colliers’ chief executive, David Izett, said the teams from Jansons and Paul & Company add to the strength and diversity of the firm’s operations.

“These acquisitions are the first in a number of strategic bolt-on acquisitions and new business launches which, as outlined in our recent equity fund raising, we plan to deliver in line with our stated strategy for growth,” he added. 

Colliers was advised by Howard Goldsobel and Philip Goldenberg of law firm Michael Conn Goldsobel with Baker Tilly handling the tax issues of the deal.

Jansons selling shareholders, Andrew Butler, Len Rosso and Grangeglen, were advised by Simon Deans, a partner at law firm B P Collins.

B P Collins’ team included associate Sheena Verma, employment specialist Craig Havard with Shona Dunning handling the property issues.

Deans said the deal was completed within four weeks of signing heads of terms. “Our clients have an exciting future as part of a large group and the purchaser has acquired a strong and motivated team.”

Jansons’ vendors received tax and accounting advice from Harwood Hutton, headed by Adam Stronach and Peter Agius. 

Stronach said the transaction was completed in a short timeframe with the bulk of the professional work done in the three weeks preceding the acquisition date. “Harwood Hutton is delighted to have been involved in this transaction. We wish Len Rosso, Andrew Butler and all the Jansons team a successful future with Colliers CRE.” 

Uxbridge-based Jansons is a commercial property sales and letting agency, commercial property management and surveying practice. The company reported a 2.6 million turnover and a profit before tax of £700,000 in the year to April 30, 2006.

Paul & Company provides surveying, valuation and estate agency services to the caravan, chalet and leisure industries. In the eight months to August 31, 2006 it made a fee income of £550,000 with a profit of £120,000.

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