Consultant’s deal with Dallas-based Staubach completes two-year period of constructing alliances
Jane Roberts
DTZ Debenham Thorpe is celebrating Christmas by tying up a transatlantic link with US tenant representative firm The Staubach Company.
The association, which is likely to involve an equity swap in the near future, was sealed with the Dallas-based company this week following talks which started last summer.
A new company, owned by Staubach, DTZ Holdings and its Asian associates CY Leung and Edmund Tie, will be set up on 1 January 2000.
DTZ Staubach Tie Leung will manage intercontinental client relationships. It will be run by Patrick Moultrup, Staubach’s president of international services.
Both DTZ and Staubach had talked to other parties before proceeding. DTZ had met US brokers Grubb & Ellis, Trammell Crow and Julien J Studley, while Staubach had discussions with Weatherall Green & Smith, Knight Frank and FPDSavills.
Mark Struckett, chief executive of DTZ Holdings, said the link-up was the last move “in a two-year period of forming alliances and structural change”.
This has seen the purchase of its German associate, Zadelhof, the acquisition of bigger stakes in other European partners, including a majority share in France, the swapping of equity with two Asian partners and the setting-up of Curzon Global Partners, a joint venture fund management company with US specialist AEW.
“Staubach completes a secure global partnership of leading service providers which share a common aim to provide clients with premium real estate services wherever they require them in the world,” said Struckett.
Staubach is led and majority owned by US football hero Roger Staubach, the former Dallas Cowboys quarterback. His company has doubled its staff to nearly 700 in the past four years, but is still small compared with its main rivals.
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The Staubach Company |
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Started: 1978 Head office: Dallas, Texas Owned by: Roger Staubach (majority stake), US private investor Richard Rainwater (15%), other directors Key board directors: Jim Leslie, president and chief operating officer, Ka Cotter, client accounts and marketing, Pat Moultrup, international Fee income: around $150m in 1999 Staff: 700 Offices in: 19 US cities, including Chicago, New York, San Francisco, Seattle and Washington. Expansion this year into Canada Clients: include American Airlines, Bank of America and Ericsson |
