Colliers International has announced that its UK business will be restructuring as a Limited Liability Partnership (LLP).
The members of Colliers International Property Advisers UK LLP will be made up of more than 120 directors of Colliers International and a subsidiary of FirstService.
The restructure, which came into effect today (June 1), will affect Colliers International’s UK offices across England and Scotland, with the exception of its Corporate Solutions and Property Management teams. Colliers International in Northern Ireland and Ireland will not be affected, nor will its other offices internationally.
Tim Davies of Colliers International said: “The company in the UK has undergone a significant transformation since it was acquired by FirstService a year ago.
“The change in company ownership provided an opportune time for us to change our company status. We have recapitalised the UK business and have no debt, we are fully integrated with the global brand and are now well positioned to grow the business in 2013 and beyond.
Davies continued: “We believe this move to LLP will assist with the next stage in the company’s growth and help to cement a collegiate, collaborative culture at Colliers International. It also allows our senior staff to share in the future successes of the business. Many firms within the professional services sector have also chosen to structure their businesses as an LLP and we believe this will make us even more attractive to future recruits.”