Cassidy Turley to be acquired by DTZ Investment Consortium

Washington, D.C. -- Real estate brokerage house Cassidy Turley has entered into an agreement with an affiliate of DTZ Investment Holdings to be acquired for an undisclosed sum. The buyer group is comprised of TPG, PAG Asia Capital and Ontario Teachers’ Pension Plan, which is acquiring DTZ and Cassidy Turley, then combining the two into one global company with revenues of more than $2.9 billion and more than 28,200 total employees.



Both acquisitions – of DTZ and of Cassidy Turley – are expected to be completed prior to year-end 2014.



“Following a period of intensive mutual due diligence, we are confident that this combination is an excellent cultural fit as well as an opportunity to partner with a global brand,” said Joseph Stettinius, Jr., Cassidy Turley CEO. Stettinius will become CEO of the Americas, and Tod Lickerman, global CEO of DTZ, will remain in his current position.