• The two firms have entered into a definitive agreement with the deal expected to complete in January 2025
• The Helsinki-based business has 22 commercial property professionals and has been Cushman & Wakefield’s Finnish affiliate since 2003
• Strategic acquisition strengthens Cushman & Wakefield’s core EMEA business while supporting its growth ambitions
Global real estate services firm Cushman & Wakefield has entered into a definitive agreement to acquire its affiliate in Finland. The deal is expected to complete in January 2025 and is subject to customary closing conditions.
The Helsinki-based business, which has 22 commercial property professionals – including six senior partners – has been Cushman & Wakefield’s Finnish affiliate since 2003. It provides services including capital markets, leasing, tenant representation, consulting, and valuation & advisory. Led by chairman Janne Eriksson and chief executive Juuso Pietilä, the team has advised on many landmark deals in the Finnish market, including the €135 million acquisition of a 22-asset urban logistics portfolio in June.
Following completion of the acquisition process, Eriksson will become Cushman & Wakefield’s Head of Finland and will also join the firm’s EMEA Executive Leadership Team.
Colin Wilson, Chief Executive Officer, EMEA, Cushman & Wakefield, said: “This is an exciting next step in an exceptional relationship which first began more than 20 years ago. Janne, Juuso and the team have a relentless focus on delivering for their clients that matches our own and it is a pleasure to be welcoming them into the firm. This acquisition strengthens our core EMEA business for the benefit of our clients while supporting our growth ambitions. We see considerable opportunity in Finland and the wider Nordics and expanding our owned presence in the region underlines our commitment to continuously enhancing our EMEA platform to deliver outstanding results for our clients.”
Finland’s strong economy, highly-educated workforce, global outlook, and mature real estate market appeal both to international investors and businesses wanting to enter the market. Finland consistently ranks in the top five global markets for overseas investment and is the only Nordic country to have fully adopted the Euro currency further enhancing its connectivity and investor appeal.
Janne Eriksson, Chairman of Cushman & Wakefield Finland, said: “It has been a really positive journey with Cushman & Wakefield and the time is right to move to the next stage. We have great momentum in the market and firmly believe that there is significant potential for further growth by joining together and leveraging the resources of its global network. Cushman & Wakefield has a very strong balance sheet and is investing into areas like innovative technology and the development of new products and services which will benefit our clients in Finland.”
Finland will be the ninth European country in which Cushman & Wakefield has made an acquisition since its global merger in 2015.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more.
