Avison Young Buys Montreal-Based Firm Roy et Tremblay
- Jul 07, 2014
Avison Young, the fast growing Toronto-based commercial real estate services firm, continues its expansion, this time closer to home in Canada with the acquisition of Montreal-based project management firm Roy et Tremblay Inc.
Financial terms weren’t disclosed. Avison Young is a privately-owned company that has grown from 11 to 58 offices and from 300 to more than 1,500 real estate professionals across Canada, the United States and Europe in the past five years.
The newest acquisition expands Avison Young’s business-line coverage in Montreal and the province of Quebec.
“The acquisition of Roy et Tremblay will allow Avison Young to add project management to the commercial real estate service offerings now available to clients in Montreal and the province of Canada,” Mark Rose, Avison Young chair & CEO, said in a news release. “This acquisition will better serve our customers and offer, under one banner, a full gamut of real estate services, including site search, feasibility studies, project management and property management, along with the traditional sales, leasing and advisory services now available.”
With a nod to the firm’s extensive expansion within the U.S. in recent years, he added, “This acquisition also demonstrates that we will not hesitate to expand in our well-established Canadian market when an outstanding opportunity like this one presents itself.”
Claude Roy, co-founder of Roy et Tremblay, becomes a principal and director of project management for Quebec. Including Roy, nine employees join Avison Young’s Montreal operations with the acquisition. Also moving to Avison Young are: project managers Francisco Carrera and Isabelle Raymond; senior project managers Christian Dorr, Benoit Dubuc, Daniel Sarrazin and Guylaine Tremblay; project coordinator Anne Marie-Touma and administrative assistant Julie Paquet.
“Roy et Tremblay’s know-how will represent a great value for our clients, whether they are landlords or tenants,” Laurent Benarrous, an Avison Young principal who led and negotiated the acquisition, said in the release.
Roy, who has more than 35 years of project management experience, co-founded Roy et Tremblay in 1995. The firm specializes in major project management assignments, particularly in the arts, including theaters, art schools, museums and circus schools. Roy et Tremblay has about $130 million in projects under construction. Current and past clients include the Caisses Desjardins, Business Development Bank of Canada, McGill University and L’Oreal Canada.
“This will allow us, for our mutual benefit and for the benefit of our clients, to expand the range of services that we can offer to our clients and, in return, that Avison Young will be able to offer its existing clients in Quebec,” Roy said in the release. “Today, more and more clients want to do business with a single point of service.”
Much of Avison Young’s growth in the past year has been in the U.S. Last month, the firm opened its first office in Connecticut and the fourth in the tri-state area of Connecticut, New York and New Jersey. Sean Cahill, who joined Avison Young as a principal and managing director, will run the New Canaan, Conn., office.
In April, Avison Young acquired Commercial Texas L.L.C. in Austin, Texas, where it opened its first office in that growing Texas city. Also in April, Avison Young expanded into Europe with the acquisition of NAI Haywards L.L.P. of London. It was the company’s first acquisition outside North America and part of the firm’s push into Europe and Asia.
The firm started off 2014 with three U.S. acquisitions: Mason Partners of Houston, PSB Realty Advisors of Columbus and The Eidson Group L.L.C. of Atlanta. It had ended 2013 with the additions of McShea & Co., Inc. of Gaithersburg, Md., and Dillon Corporate Services/Cresa Dallas.