CB Richard Ellis Group, Inc. announced that it has acquired Holley Blake, the leading industrial real estate services specialist in the United Kingdom, for approximately €17.25 million in cash. The acquisition gives CB Richard Ellis the leading position in the industrial and logistics sectors in the United Kingdom, and marks an important step in the Company's continued expansion of its full-service capabilities across Europe.
Founded in 1996 by Simon Holley and Simon Blake, the firm has built a solid reputation. Its industrial and office teams are particularly strong in the Thames Valley the UK's equivalent of Silicon Valley and Holley Blake is also recognized as a leading business space investment specialist.
The 16-person firm will be fully integrated into CB Richard Ellis, and will adopt the CBRE brand. Holley Blake advises some of the biggest names in the UK industrial market, including Brixton, ProLogis, Gazeley, Astral and Parkridge.
"The acquisition of Holley Blake gives us the leading position in the UK industrial market, fulfilling a key growth objective in Europe," said Mike Strong, President of Europe, Middle East & Africa for CB Richard Ellis. "Similar to our acquisition of Dalgleish in the retail sector last year, we now have a formidable UK industrial platform, which augments our industrial capabilities throughout Europe."
Martin Samworth, UK Managing Director, CB Richard Ellis, said, "This was a strategic opportunity to enhance the services we offer clients, particularly in the industrial and logistics sectors. Combining Holley Blake with our existing resources gives us the premier industrial services platform from which to serve our clients and to fulfill our growth objectives. "
"We are extremely excited by our merger with CB Richard Ellis," said Simon Blake, Partner, Holley Blake. "We considered a number of options, but CB Richard Ellis was clearly our first choice. Its global platform and strength in the marketplace will give us an excellent opportunity to grow our position both in the UK and internationally. Our clients will benefit enormously from this merger."
Source: CB Richard Ellis