Cresa Seeks Rapid Growth With New M&A

Cresa is continuing its merger and acquisition activity. This time, the CRE firm has purchased Pacific Program Management in its latest phase of broadening its offerings.

The deal for an unspecified price, aims to strengthen Cresa’s project management team, which complements the company’s workplace strategy and transaction management units. These groups work collectively from site selections to move-ins.

Cresa will add 180 professionals from PPM to its project management group, which will grow the unit to more than 280. They will operate in 35 markets in North America.

Plus, PPM brings experience in workplace consulting, transition and relocation, portfolio management, and client delivery.

Clark Lindsay, CEO and founder of PPM, will serve as the president and managing principal of Cresa’s project management team. Also, PPM’s Mark Wanic (chief operating officer), Christy McFall (visit president of west national accounts), and Sandra Yencho (vice president of east national accounts) will all take on leadership roles with Cresa. They will play a part in helping grow the bolstered property management team.

“Cresa is like us. With its unique occupier-only focus, and commitment to personalized solutions, independence of thought and resourcefulness, this is a perfect fit for us,” Lindsay said.

“With this shared vision, we will continue to drive business strategy, be people and partner centric, all while harnessing the strength of Cresa’s expertise and reach to bring enhanced services to our clients worldwide.”

The move by Cresa marks the seventh M&A deal it has struck in the last couple of years. Most recently before PPM, it bought NorthStar Owners Representation, a Philadelphia-based project management firm in September. That increased its regional office count to 31 employees from 20.

“Our tenant focused, conflict free business model allows us to continue on a rapid growth trajectory as we remain committed to adding value for clients through mergers and acquisitions,” Cresa president Greg Schementi, said after its latest deal with PPM.

“We believe these initiatives will reinforce our position as the industry leader in occupier services while strengthening our capabilities and broadening our reach in key markets across North America.”

Across 380 offices, Cresa provides worldwide services to more than 16,000 people, from advisory lease administration to workplace solutions.