GVA, the UK’s largest independent commercial property advisor – which has a major presence and employs nearly 400 people in the Midlands – has appointed Canaccord Genuity to review strategic options to enhance its further growth, having delivered sharply improved operating profits for 2012/13.
The investment bank will explore strategic options to allow Top Five advisory firm GVA, which achieved a leap in profit before tax of £7.8m, up from £146,000 in 2011/12 and a major reduction in net debt, to achieve its medium-term strategic goals.
Rob Bould, chief executive of GVA, comments: “We’re delighted to be working with Canaccord. This builds on the good work we have achieved over the past two years, and marks the next step in achieving our long terms aspirations for major growth and in creating a truly international dimension to our UK facing business.
“The success of our company restructure 18 months ago, coupled with our ability to build on that platform throughout last year with an outstanding end of year, has turned GVA into a much stronger proposition that is now primed for further growth. We have gained market share in high-growth areas, increased fee income and continued to invest in our resilient advisory-led regional model that differentiates us from other UK commercial property advisors.”
Ian Stringer, GVA’s Senior Regional Director in the Midlands, said: “Our regional strengths are very important to GVA, delivering almost half of its turnover in the UK. This move is a reflection of an increasing desire to move towards a wider international platform in an increasingly global business environment.
“Positive market sentiment built on hard evidence that better times lay ahead here in the UK and globally, means now is an important period in which to invest in our future and gain further momentum. With this in mind, this latest move marks our next logical step for further growth.”