The M&A rumour mill doesn’t grind into action these days; it simply never stops turning. This week Strutt & Parker became the latest firm to be ensnared. Again.
A well-run business, with a coveted brand, Strutts has long been linked with a number of rivals. And despite the insistence of senior partner Andy Martin on these pages last week that he has no desire to “give it to anyone else”, the appointment of investment banking advisory firm Evercore to advise on acquisitions has prompted interest in the 130-year-old business.
It’s true that Strutts is in acquisition mode: just last month it bought AKA Planning, an independent planning consultancy based in Surrey, its third deal of the year. But with an expanded team of professional advisers – Evercore and a new PR firm too – interest from acquisition-hungry peers was inevitable.
So rivals are circling. LSH, backed by Countrywide, fresh from its rebuff by Deloitte Real Estate, is thought to be among them. It is no surprise that CBRE is understood to be taking a look. And with Strutts having posted record revenues on the back of some great appointments last year, it’s a list that will grow.
A window appears to be open. Watch this space.
ν Bilfinger GVA is in a similar place. Its engineering parent company revealed approaches for the real estate business last week, which it is reviewing. It would be a surprise if that interest did not include facilities managers looking to follow a path carved by CBRE, JLL and Cushmans. For the bigger players, the combination of FM and advisory now appears irresistible.
ν Where were you when the cranes were dancing? That’s the question organisers of the first Mass Crane Dance hope you will be asking yourself when this ambitious visual spectacular hits London in October. With more than 150 cranes active in zone one, the plan is to persuade as many developers as possible to lend support and make the skyline dance. Music videos are planned, the BBC is involved, so is Estates Gazette and others. Light up the dark days of January by finding out more at www.masscranedance.com.
ν After a slumberous winter, this week marks something of a return to action for many. From the new-year resolvers to those who took part in the races at Propski in Val Thorens this week, pavements and pistes have been pounded.
Those signed up for the Legal & General Cycle to MIPIM will be in the advanced stages of their training programmes, while next week registration for the 10th annual JLL Triathlon opens (be sure to register from 28 January at www.propertytriathlon.com).
To influence by example, I can tick all of the boxes above. I attended my first Propski – an inspiring event, more on which next week – and finished last in the Giant Slalom, some minutes behind a field that included JLL chief executive Guy Grainger. I was passed by the chief executive of one of the capital’s biggest developers on a south-west London pavement the week before that. And while I may not be cycling to MIPIM, I did attend a spin class with many who are, leaving no one in any doubt that I am better suited to flying over the near-1,000 mile cycle route.
It truly is the taking part that counts in my book.
That said, I will take part in my third JLL Triathlon in July. And, no, I won’t be joining the fancy dress wave, which runs for the first time this year and will surely push the money raised for charity beyond an impressive £1.5m already contributed.
Encouragingly, my sports psychologist, dietician and personal trainer say I am right to feel optimistic that I can retain the Fastest Editor Cup. It may be a trophy that exists only in my imagination – with a field that comprises a single competitor – but the promise of a rare victory is all that persuades me to train.
