by Brianna Crandall — December 3, 2018 — Global real estate services firm Cushman & Wakefield just announced it has entered a definitive agreement to acquire Quality Solutions, Inc. (QSI Facilities) , said to be one of the nation’s top facilities management (FM) outsourcing firms specializing in on-demand facilities maintenance and project management services through a national network of facilities contractors.
This acquisition will expand Cushman & Wakefield’s facilities management capabilities and coverage across North American markets by leveraging QSI’s strong supply chain of 50,000+ qualified suppliers and 75+ facilities trades. Providing particular benefit to FMs responsible for multiple locations, QSI says it provides the technicians and technology to deliver a holistic plan that improves performance and lowers costs. The firm centralizes work orders across the country through one portal, and consolidates and gains transparency into facilities spend to reduce total cost of ownership (TCO).
Steven Quick, chief executive, Global Occupier Services, stated:
This acquisition will significantly benefit our clients by enhancing our leading facilities management platform, building on the existing strengths of our account-based Global Occupier Services business. Our ability to provide a deeper network of suppliers and coverage across all markets, combined with our efficient delivery model, will allow us to better serve large corporations with distributed real estate portfolios.
Eric Crabb, chief executive officer, QSI, remarked:
Cushman & Wakefield has presented us with a great opportunity to integrate our existing platform into their best-in-class facilities management practice which will allow us to do more for our existing clients. It is an exciting time to be part of the firm’s growth story. There is very real momentum, and we’re just getting started.
Cushman & Wakefield’s Global Occupier Services business delivers real estate solutions for large corporations around the world by providing outsourcing services that include FM, portfolio administration, project management and development services and transaction management, supported by leading technology and research. The firm has some 48,000 employees in approximately 400 offices and 70 countries.
The acquisition of QSI is expected to close in the first quarter of 2019 and is subject to customary closing conditions.