22 January 2018 | Herpreet Kaur Grewal
GVA has announced that it has separated from Apleona and is now an independent group.
The separation will allow the two businesses to focus on their respective core markets - GVA as a real estate advisory business and Apleona as a management services business.
GVA will remain under the ownership of private equity group EQT. Andy Mottram, a former member of JLL's EMEA board, has been appointed to the role of chairman.
GVA chief executive Gerry Hughes said: "The separation is a significant development which gives us greater focus and control over the next phase of our growth. We now have a closer operational relationship with our shareholder, which will fast-track the delivery of our strategy.
"2017 was another strong year for GVA operationally and financially. As well as achieving our financial targets, we welcomed 25 new directors and senior directors to our business, and we are looking forward to accelerating our growth in 2018 and beyond.
Mottram added: "GVA is a great brand in the UK with a real sense of momentum. The firm offers a unique market proposition blending consultancy and transactional services across both the private and public sectors and its regional network is the envy of the market. I look forward to supporting Gerry and the team in the next phase of our journey."
Andreas Aschenbrenner of EQT added: "We are pleased with GVA's progress and strong financial performance in the year since we acquired it. This provides a solid platform to drive the business forward and the separation from Apleona reflects this potential. We are pleased to welcome Andy Mottram as chairman, who brings both operational and strategic experience to bear in our new governance structure."