News

Erinaceous goes global as part of NAI network

News

Estates Gazette

23 June 2007

Link will allow access to global services and capital markets

Julia Cahill

Erinaceous has joined forces with US commercial property services network NAI Global.

Erinaceous, which employs 900 staff in its commercial property division, producing a turnover of £97m last year, this week signed an agreement to become the UK representative of the referral network.

The deal follows last year’s takeover of NAI’s previous UK affiliate, Fuller Peiser, by Atisreal.

NAI, which is headquartered in New Jersey, manages a referral network of more than 160 independently owned property consultants, which have 350 offices in 45 countries.

The NAI licence is thought to cost a “six-figure” sum to network members. Corporate clients include Gillette, Pepsi, Motorola, IKEA, RREEF, Liberty Property Trust, Siemens, ABN AMRO and Wal-Mart.

Stuart Hicks, managing director of professional services at Erinaceous, said the tie-up underlined the firm’s “declared intention to become a formidable force within the property services industry”.

Erinaceous has expanded quickly by buying companies such as Dunlop Heywood Lorenz parent Hercules Property Services in 2004. Its turnover, which is heavily weighted towards professional and consultancy work rather than agency, overtook the UK turnover of Cushman & Wakefield and Colliers CRE last year.

However, Erinaceous has been criticised for failing to integrate its businesses. The company is also currently involved in an investigation into the alleged fraud of an employee at its Bow Lane office in the City.

In a staff memo this week, Hicks said: “Our appearance in the UK’s top 10 consultancies has startled some but this is just the beginning. Watch us continue our growth from a position of strength.”

NAI global president and chief executive Jeffrey Finn said: “Erinaceous is now poised to go to the next level regionally and globally. By combining with NAI, Erinaceous will be able to provide its clients with global services.

“We have worked with other companies at similar stages of development and these companies are now top five firms in their market.”

Finn also said that access to global capital markets would strengthen Erinaceous’s position in the UK.

Link will allow access to global services and capital marketsJulia CahillErinaceous has joined forces with US commercial property services network NAI Global.Erinaceous, which employs 900 staff in its commercial property division, producing a turnover of £97m last year, this week signed an agreement to become the UK representative of the referral network.The deal follows last year’s takeover of NAI’s previous UK affiliate, Fuller Peiser, by Atisreal. NAI, which is headquartered in New Jersey, manages a referral network of more than 160 independently owned property consultants, which have 350 offices in 45 countries. The NAI licence is thought to cost a “six-figure” sum to network members. Corporate clients include Gillette, Pepsi, Motorola, IKEA, RREEF, Liberty Property Trust, Siemens, ABN AMRO and Wal-Mart.Stuart Hicks, managing director of professional services at Erinaceous, said the tie-up underlined the firm’s “declared intention to become a formidable force within the property services industry”.Erinaceous has expanded quickly by buying companies such as Dunlop Heywood Lorenz parent Hercules Property Services in 2004. Its turnover, which is heavily weighted towards professional and consultancy work rather than agency, overtook the UK turnover of Cushman & Wakefield and Colliers CRE last year. However, Erinaceous has been criticised for failing to integrate its businesses. The company is also currently involved in an investigation into the alleged fraud of an employee at its Bow Lane office in the City.In a staff memo this week, Hicks said: “Our appearance in the UK’s top 10 consultancies has startled some but this is just the beginning. Watch us continue our growth from a position of strength.”NAI global president and chief executive Jeffrey Finn said: “Erinaceous is now poised to go to the next level regionally and globally. By combining with NAI, Erinaceous will be able to provide its clients with global services.”We have worked with other companies at similar stages of development and these companies are now top five firms in their market.”Finn also said that access to global capital markets would strengthen Erinaceous’s position in the UK.