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Wednesday, June 14, 2023

Colliers CRE buys Locum Consulting for 2m

Real estate consultancy service group Colliers CRE has bought Locum Consulting Group Ltd for 2m and has acquired a 60% stake in Irish affiliate Colliers Jackson-Stops for ?4.8m.

Locum works with the owners, managers and developers of destinations ranging from regions and cities, through to artistic and cultural attractions, leisure parks and event venues. Its clients include operators, investors, developers, funding bodies, government agencies, regional and national authorities and public-private partnerships.

In its last financial year, ending 30 September 2005, Locum Consulting had an annual turnover of 1.8m and Colliers CRE has agreed a cash and shares deal valued at 2m which will be paid over the next three years.

Locum will remain a separate trading company and brand within the Colliers CRE group of companies and will be an integral part of the consulting offer within the Group. The 20 strong team will retain the Locum office in Haywards Heath while building a Locum presence at Colliers' offices throughout the UK. Richard Tibbott and Sean Young will remain Chairman and Managing Director respectively and Mike Roberts, Colin Knott and Mark Sample, all at Colliers CRE, will join the Locum Consulting Board.

Sean Young, managing director at Locum Consulting, commented: "Colliers CRE has the size, knowledge and reputation, as well as a strong regional presence, to help us make the desired step change in scale and performance. Through the Colliers International network we will also be able to get involved in further work overseas. We thought long and hard about which company would provide the best platform for future growth and the best fit with our culture and work ethos. Colliers CRE is the ideal partner."

David Izett, managing director at Colliers CRE, added: "Locum Consulting has a first class reputation and will provide us with the opportunity to build up a quality offering in the sports, leisure and destination consulting arena, as well as enhance our current regeneration and planning capabilities. This acquisition is an important part of our growth plans for the company as we expand our offering both in the UK and abroad."