Cushman & Wakefield (C&W) said on Tuesday that it has acquired full ownership of a joint venture, Corporate Occupier Solutions (COS), formed with EC Harris in 2006. The deal is in line with 'its strategy to expand and align its facilities management services globally'. The financial details were not disclosed.

As of 1 May 2011, the joint venture ceased to exist and the FM business became an integral part of the firm's global Corporate Occupier & Investor Services (CIS) division in EMEA.

COS was formed in 2006 as a joint venture between C&W and EC Harris to provide integrated facility, project, transaction and asset management services to corporate real estate clients across Europe, Middle East and Africa. The joint venture manages corporate real estate services for corporate clients in nearly 800 buildings across more than 50 countries with 130 staff.

Following a strategic review, the two companies agreed that a single ownership model would work best to continue developing and growing the business. C&W said that 'there will be no disruption to existing clients and all employees will become part of C&W's CIS division'.

'The acquisition of EC Harris' 50% interest in COS is in line with C&W's strategy to expand and develop its global FM capability as an integral part of its Corporate Occupier & Investors Services offering which provides real estate strategies for large international corporations and property owners,' said John C. Santora, president and CEO of C&W's Corporate Occupier and Investors Services.

EC Harris will continue to provide support to specific COS clients in line with current arrangements and plans to further expand its property operations and facilities management services to corporate real estate clients.