T&T and CBRE: A good deal to think about

Chloe McCulloch

What will T&T’s sale of a 60% stake to CBRE mean for the firm – and the wider industry?

If £9m landed in your lap tomorrow, would it change your outlook on life? Would it affect your relationships with others? Most people at some point daydream of winning the lottery despite – or maybe because of – us knowing the chances are that it will never happen. Which makes the recent news that 106 partners at Turner & Townsend are in line for a seven-figure windfall after selling a 60% stake in the business to global giant CBRE for £960m such a compelling story. Of course, not all the partners have an equal stake, so some will get less than the average £9m while others – and presumably the boss Vince Clancy is among them – will get substantially more. 

“Good on ’em” has been the general reaction. After all, most construction bosses would cash in if such an offer came along. And beyond the fascination with other people’s personal wealth, the deal, which valued T&T at £1.6bn, has created a positive buzz because of what it says about the global reputation of the UK cost consultancy sector. Known for having world-class PM and QS talent, it is hardly surprising that acquisition-hungry corporates from the US swoop in when exchange rates are so favourable.

Already registered? Login here

To continue enjoying Building.co.uk, sign up for free guest access

Existing subscriber? LOGIN

 

Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.

  • Limited access to building.co.uk
  • Breaking industry news as it happens
  • Breaking, daily and weekly e-newsletters

Get your free guest access  SIGN UP TODAY

Gated access promo

Subscribe now for unlimited access

 

Subscribe to Building today and you will benefit from:

  • Unlimited access to all stories including expert analysis and comment from industry leaders
  • Our league tables, cost models and economics data
  • Our online archive of over 10,000 articles
  • Building magazine digital editions
  • Building magazine print editions
  • Printed/digital supplements

Subscribe now for unlimited access.

View our subscription options and join our community