Savills has strengthened its UK management team with the acquisition of Chainbow Ltd, a specialist residential management business.

The company’s Chairman and Chief Executive Officer, Roger Southam, established Chainbow in 1989 and now employs 28 staff members, all of whom will now move to Savills with immediate effect.

Among those are Nigel Bosworth, the firm’s managing director, and Niccie Storr and Gail Lawrence, both of whom are associate directors.

Chainbow specialises in the build to rent, private rented and residential block management sectors, and provides consultancy services and property management services to a number of clients including Westrock, Englander Group and Taylor Wimpey.

CEO of Savills UK and Europe, Mark Ridley, commented that Chainbow has a well-respected and established reputation throughout the property management sector, specifically in the estate and residential areas, which will both enhance and compliment their existing offer.

Savills’ Head of Property Management, Nick Herward, commented that property management is an important service line for the company and the integration of Mr Southam, Mr Bosworth and the whole Chainbow team will go a long way in augmenting their leading offer in Central London, along with the wider national management sector.

Mr Herward added that the acquisition also shows Savills’ long term commitment to providing a top class, diverse service for its clients.

Meanwhile, Mr Southam commented that Chainbow is delighted to join forces with Savills and is now anticipating a positive move in the expansion of the service it already offers as part of a national team.

He believes that the wealth of experience of both companies in the property management sector will combine to form a formidable force in the industry.

As well as Chainbow, Savills has also secured a deal to acquire Collier & Madge, a specialist London commercial property management company. They secured this deal in May of last year.