{{Short description|Commercial property company based in London, UK}} {{Use British English|date=February 2024}} {{Use dmy dates|date=February 2024}} {{For|the chess term|Endgame tablebase#Metrics}} {{Infobox company | name = DTZ | logo = | former_name = Debenham, Tewson & Chinnocks | industry = Commercial property | location = London, England | founded = 1853 | defunct = 2015 | area_served = Worldwide | key_people = Tod Lickerman (Chief Executive Officer) | services = | num_employees = 47,000 | num_employees_year = 2014 | website = [https://web.archive.org/web/20150326064917/http://www.dtzglobal.com/ www.dtzglobal.com] }}
'''DTZ''' was a London-based commercial property company. Tracing its origins back to 1853, it merged with Cushman & Wakefield in 2015 and its brand was retired.
==History== Debenham & Tewson was established in London in 1853. In 1913 it merged with Chinnock, Clarke & Chinnock to form Debenham, Tewson & Chinnocks. In 1987, Debenham, Tewson & Chinnocks was listed on the London Stock Exchange. In 1993, a joint venture was formed with Jean Thouard of France, and the Zadelhoff Group of Germany and the Netherlands, forming DTZ.<ref>{{Cite web |last= |first= |date= |title=About DTZ: History |url=http://www.dtz.com/portal/site/Global/menuitem.b62181ea4e7d49739d37a210da80cb3c/?vgnextoid=35b0f8377e480010VgnVCM100000ad08bcc3RCRD |url-status=dead |archive-url=https://web.archive.org/web/20081112175257/http://www.dtz.com/portal/site/Global/menuitem.b62181ea4e7d49739d37a210da80cb3c/?vgnextoid=35b0f8377e480010VgnVCM100000ad08bcc3RCRD |archive-date=12 November 2008 |website=DTZ |via=Internet Archive}}</ref>
Timothy Melville-Ross (previously chair of Nationwide Building Society and director-general of the Institute of Directors) was chairman of the board for a period around 2005.<ref>{{cite news |last=Hosking |first=Patrick |date=8 September 2005 |title=Investors advised against re electing DTZ chairman |url=https://www.thetimes.com/business-money/companies/article/investors-advised-against-re-electing-dtz-chairman-k7s97cd99b0 |access-date=2024-02-22 |work=The Times |issn=0140-0460}}</ref>
In December 2011, parent company DTZ Holdings was placed into administration and its business entities were sold to UGL in order to repay {{GBP}}77.5m of an outstanding {{GBP}}106m debt owed to Royal Bank of Scotland. The shareholders' equity was wiped out after a deal with majority shareholder Saint George Participations and BNP Paribas Real Estate fell through.<ref>[https://web.archive.org/web/20230605110917/https://announcements.asx.com.au/asxpdf/20111205/pdf/42322whv6xd9bl.pdf UGL acquires DTZ for £77.5 million] UGL 5 December 2011</ref><ref name="Telegraph">{{cite news|last1=Ruddick|first1=Graham|title=DTZ becomes a victim of the financial crisis|url=https://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/8936953/DTZ-becomes-a-victim-of-the-financial-crisis.html|access-date=11 January 2017|work=The Daily Telegraph|date=6 December 2011}}</ref><ref>{{cite news|title=DTZ equity worth little or nothing, shares plunge|url=http://uk.reuters.com/article/us-dtz-idUKTRE7A618B20111107|archive-url=https://web.archive.org/web/20170113074027/http://uk.reuters.com/article/us-dtz-idUKTRE7A618B20111107|url-status=dead|archive-date=13 January 2017|access-date=11 January 2017|work=Reuters|date=11 November 2011}}</ref> The company was reportedly worth almost {{GBP}}500m around 2006.<ref name="Telegraph" /> The company was in financial difficulty after a spending spree prior to a financial crisis, buying Rockwood in the US and retail agent Donaldsons.<ref name="Telegraph" />
In November 2014, DTZ was sold to a consortium of TPG Capital, PAG and the Ontario Teachers' Pension Plan.<ref>[https://web.archive.org/web/20230605114900/https://www.afr.com/companies/ugl-eyes-john-holland-after-1-2b-dtz-buy-20140616-jgrfr UGL eyes John Holland after $1.2b DTZ buy] ''Australian Financial Review'' 15 June 2014</ref><ref>{{usurped|1=[https://web.archive.org/web/20141108062920/http://www.dtz-ugl.com/News/media-centre/dtz-becomes-a-private-independent-global-property-services-company DTZ becomes a private independent global property services company]}} DTZ 5 November 2014</ref> On 1 September 2015 Cushman & Wakefield and DTZ merged, and the DTZ brand was retired.<ref>[https://web.archive.org/web/20150904212328/http://www.cushmanwakefield.com/en/news/2015/09/merger-announcement/ Cushman & Wakefield and DTZ Announce Completion of Merger] Cushman & Wakefield 2 September 2015</ref>
DTZ Investors continues as an entity of Cushman & Wakefield and operates as a full-service vertically integrated real estate manager.<ref>{{Cite web |title=About Us |url=https://www.dtzinvestors.com/en/about-us |access-date=2024-02-22 |website=DTZ Investors |language=en}}</ref>
==References== {{Reflist}} {{Ontario Teachers' Pension Plan|state=expanded}} {{Real estate in the United Kingdom}}
Category:Commercial real estate companies Category:Companies based in London Category:Companies formerly listed on the London Stock Exchange Category:Ontario Teachers' Pension Plan Category:Property companies based in London Category:Property management companies Category:Property services companies of the United Kingdom Category:Real estate companies established in 1853 Category:Real estate services companies of the United States Category:1853 establishments in England Category:2015 disestablishments in England