Colliers International has bought London specialist H2SO in a move that will significantly increase its West End presence.
FirstService Corporation said its subsidiary Colliers International has acquired H2SO, which generated approximately $12m (£7m) turnover in 2013.
20 Savile Row-based H2S0 was launched in 2009 by a number of West End heavyweights, including former DTZ director Paul Smith and King Sturge West End partner David Hanrahan.
As well as Hanrahan and Smith, the deal will see a further 15 employees move over to Colliers International, including Rob Hayes, Charlie Van der Gucht and John Olney.
Tony Horrell, chief executive of Colliers UK and Ireland, said: “Both firms have an enterprising culture and approach to excellence that will help define our service offerings for many years to come.”
During its five-years in business, H2SO has secured a number of high-profile West End agency and investment instructions.
It is currently advising on SWIP’s £130m sale of 22 Hanover Square, W1, and LaSalle Investment Management’s £63m disposal of 130 Shaftesbury Avenue, W1.
Buying H2SO will help Colliers to boost its West End team, which has been slimmer since a number of ex-Godfrey Vaughan staff left to set up GN2 in 2012.
The launch of GN2 coincided with the end of a tie-in period following the acquisition of Godfrey Vaughan by Colliers in 2008.
The latest acquisition comes after Colliers bought retail specialist Briant Champion Long in February.
joanna.bourke@estatesgazette.com
