Atisreal continues its international expansion by acquiring Harrington Bannon, a property consulting business and one of the premier brands in Ireland, to create Atisreal Ireland. The transaction is subject to the approval of relevant authorities and is expected to be completed 1rst of July.
Harrington Bannon is a recognised player in corporate real estate services in Ireland, with over 20 employees. The Dublin based company was founded some 30 years ago and generated excess €5 million turnover in 2005. Harrington Bannon operates in investment, agency and in particular the office agency market, consulting, professional services including valuation and rent reviews, and property management.
The principles in the company are Managing Partner Patrick Curran and Partners John Mc Cann, Thomas Carthy, Caitriona Ryan and Conor Whelan.
This operation represents Atisreals first acquisition in Ireland. Alain Béchade, Vice Chairman of Atisreal, explains: The Irish market is strategic particularly with regards to international investment. In terms of Corporate Real Estate, this market is also an important link between North American companies and Europe. It is an extremely buoyant domestic market and Irish investors are active in the UK and continental Europe markets.
This acquisition reinforces Atisreals European network and its leadership in corporate property services in the euro zone. In addition to Ireland, Atisreal is already present in France, Belgium, Luxembourg, Germany, Spain, UK, Italy (since November 2005), and in the USA.
Patrick Curran, who becomes Managing Director of Atisreal Ireland, commented: This acquisition cements the excellent relationship that we have had with Atisreal since 2002. Harrington Bannon has hitherto been Atisreals preferred partner in Ireland. The company has an outstanding international and domestic customer portfolio, including BNP Paribas, Amgen, IBM, Ericsson, Aon, Kellogs, McDonalds, EMC and Royal Mail to name but a few. We are convinced that the fact we are now part of Atisreal will help us to continue expanding and become the market leader in Ireland in corporate real estate services. In this regard, the Irish management team will remain with the company and will continue to grow the business .