LDC agrees to sell GVA to Bilfinger

Following the transaction, GVA will be merged with Bilfinger, expanding their collective global reach and boosting client numbers.

The acquisition was approved by 99% of Bilfinger shareholders. The buyer is based in Mannheim, Germany, and is listed on the Dax Exchange with a market cap of €3.2bn.

Previous funding
LDC acquired its 25.7% stake in GVA in 2007 for £40m. The deal was part of a financial restructuring that saw GVA convert from a limited liability partnership into a limited company. Royal Bank of Scotland and Barclays provided acquisition finance and working capital facilities to support the transaction.

Company
Headquarterd in London, GVA is a commercial property adviser. The company has 12 offices across the UK. It is the major shareholder in GVA Worldwide, a partnership of independent commercial real estate companies serving 50 markets across Europe and Asia.

The firm employs 1,500 staff and expects to generate turnover of €190m this year, up from £147.3m in 2013. GVA's history dates back 200 years.

People
Tim Farazmand is a managing director at LDC.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• UK / Ireland
• Support services
• Exits
• United Kingdom
• LDC