Savills Studley Acquires Management Consultants KLG Advisors
Savills Studley, the global commercial real estate services firm, will acquire management consulting firm KLG Advisors, Commercial Observer has learned. Financial terms of the deal have not been disclosed.
New York-based KLG was founded in 1993. The firm provides strategic location and workforce advisory services to large corporations, including portfolio evaluation and realignment. KLG’s six employees are now working at Savills Studley’s New York office at 399 Park Avenue.
“KLG has received many overtures over the last two decades,” said Doane Kelly, the founder, in a prepared statement. “But in the end there was really only one place where our intellectual capital could be effectively leveraged.”
Mitchell S. Steir, the chairman and chief executive officer at Savills Studley, said it was 20 years of experience working with KLG that attracted his firm. “They are the best in the business, with no peers in the industry. [We’ve] interacted incredibly well on some big projects through the years,” he said, citing work for Time Warner’s 4 million square foot New York portfolio in 1996-2004 and 2010-2013.
Last spring London-based advisory Savills plc bought New York-based tenant representation specialist Studley in a $260 million deal, as reported by Commercial Observer.
“The combination of Studley and Savills represents a unique opportunity which not only provides us with a significant platform for growth in the US, but also enhances our offering to clients worldwide allowing us to provide a truly global service,” said Jeremy Helsby, the group chief executive of Savills, at the time the merger was announced
Surely this acquisition is a sign of that growth. Mr. Helsby was unavailable for comment. The firm has 26 offices in the U.S.