{"id":1004095742,"date":"2014-05-01T06:17:12","date_gmt":"2014-05-01T14:17:12","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004095742"},"modified":"2022-08-08T22:07:28","modified_gmt":"2022-08-09T06:07:28","slug":"studley-and-savills-to-merge-in-260m-deal","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/studley-and-savills-to-merge-in-260m-deal\/","title":{"rendered":"Studley and Savills to Merge in $260M Deal"},"content":{"rendered":"

Mike Ratliff, Senior Associate Editor<\/i><\/p>\n

\"colacino_michael033\"

Michael Colacino. Photo by Gary Spector.<\/p><\/div>\n

Industry predictions for an increase of M&As<\/a> in 2014 have received a big piece of supporting evidence now that the rumored Studley and Savills merger has been made official. London-based Savills plc will pay $260 million for Studley, which currently operates 25 offices across the U.S. The merger is expected to close by the end of May, and Studley\u2019s operations in the U.S. will be renamed Savills Studley.<\/p>\n

At this point you might be wondering what this means for the top posts at Studley. Chairman & CEO Mitchell Steir will continue to hold those same titles for Savills Studley, as will president Michael Colacino. The pair will also share a seat on the Savills Group executive board.<\/p>\n

In a prepared statement, Steir said that the merger is \u201ca great opportunity for us to build on our strong position in the market and benefit from being part of one of the leading global brands in the industry.\u201d He added that the strategy will specifically enable Studley to capitalize on cross border opportunities in both Europe and Asia.<\/p>\n

When all is said and done, the merged entity will have more than 500 locations worldwide, and Savills will have a big presence in the U.S. The high-performing tenant representation program that Studley is known for will be augmented with an expanded capital markets business when existing Savills U.S. capital markets teams move into Studley\u2019s New York, Washington, D.C. and Los Angeles offices.<\/p>\n

Savills was established in 1855 and is headed up by Jeremy Helsby, who holds the title of group chief executive. While the publically listed (LSE:SVS<\/a>) company was already a well-established leader in commercial real estate services in Europe, Asia Pacific, Africa and the Middle East, new access to the U.S. allows the firm to \u201cprovide a truly global service,\u201d Helsby said, also in a prepared statement.<\/p>\n

Be sure to check back in tomorrow for more details on this merger.<\/p>\n","protected":false},"excerpt":{"rendered":"

Industry predictions for an increase of M&As in 2014 have received a big piece of supporting evidence now that the rumored Studley and Savills merger has been made official.<\/p>\n","protected":false},"author":1194,"featured_media":1004095795,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21742],"tags":[],"class_list":["post-1004095742","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-latest"],"acf":[],"yoast_head":"\nStudley and Savills to Merge in $260M Deal - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/studley-and-savills-to-merge-in-260m-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Studley and Savills to Merge in $260M Deal\" \/>\n<meta property=\"og:description\" content=\"Industry predictions for an increase of M&As in 2014 have received a big piece of supporting evidence now that the rumored Studley and Savills merger has been made official.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/studley-and-savills-to-merge-in-260m-deal\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-05-01T14:17:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-09T06:07:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/05\/colacino_michael033.png\" \/>\n\t<meta property=\"og:image:width\" content=\"500\" \/>\n\t<meta property=\"og:image:height\" content=\"280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Mike Ratliff\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/studley-and-savills-to-merge-in-260m-deal\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/studley-and-savills-to-merge-in-260m-deal\/\",\"name\":\"Studley and Savills to Merge in $260M Deal - 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