Ontario Teachers, PAG and TPG close buy of property services company DTZ
The previously announced acquisition of DTZ by Ontario Teachers’ Pension Plan, PAG Asia Capital and TPG Capital has been closed. Reuters previously reported the value of the transaction to be US$1.1 billion. As a result of the deal, the Chicago-based DTZ, formerly a subsidiary of Australian engineering services provider UGL Ltd, will operate as an independent, privately owned property services business. In September, the company agreed to merge with Cassidy Turley, a U.S. commercial real estate services provider. That acquisition, which is expected to be wrapped up by the end of this year, is backed by Ontario Teachers, PAG and TPG.
5 November 2014•5 mins read
