DTZ and Cassidy Turley are now operating as a single global commercial real estate firm, following the acquisition of Cassidy Turley by the private equity investment consortium backed by TPG Capital, PAG Asia Capital and Ontario Teachers’ Pension Plan.
The consortium acquired DTZ in November of 2014.
The new company represents $2.9 billion in annual revenues and more than 28,000 employees. It also manages 3.3 billion square feet globally.
Tod Lickerman will be the global chief executive officer of the integrated company. Joseph Stettinius Jr., Cassidy Turley’s chief executive officer, is now Chief Executive of the Americas, while Brett White, former chief executive officer of CBRE Group, who also invested in the acquisition, will become full-time executive chairman in March of 2015.
“This combination is an excellent cultural fit and mutually beneficial for both companies, given our strong position in the U.S. market and DTZ’s global footprint,” said Stettinius in written statement. “As DTZ and Cassidy Turley join forces under our new brand and ownership, I’m excited about the advantages we can now offer our clients and our people.”
