Atisreal has completed the acquisition of 120-year-old property services rival Fuller Peiser

Although the price was not disclosed, it is thought that Atisreal has paid around £15m for the company.

Greg Cooke and Mark England will continue to head the company as chairman and chief executive, respectively, while Martin Coles, the managing partner of Fuller Peiser, will become a board director.

The acquisition will mean that Atisreal, a subsidiary of BNP Paribas Real Estate, will have 880 staff located in 11 cities throughout the UK, and an estimated combined annual gross turnover for 2006 of £83.2m (€122.8m).

Fuller Peiser, which was established in 1883, employs 220 staff in six offices across the UK. It specialises in the industrial and logistics markets and had an annual gross turnover of £19.1m (€28.3 million) in 2005.

Philippe Zivkovic, chairman of Atisreal and BNP Paribas Real Estate, said: 'The UK is Europe's most important commercial real estate market and is strategic for our business. The acquisition of Fuller Peiser today underlines our commitment to grow our UK business that as a result becomes Atisreal's largest business ahead of France and Germany where we are already the market leader.'

England said: 'This acquisition will increase the size of our UK operation and give us more firepower in the market. There are many synergies between our two businesses that support Atisreal's strategy of growing our investment, agency and regional capabilities.

'Fuller Peiser's expertise in the industrial and logistics sectors will also improve our offer both here in the UK as well as across Europe. It is a wonderful platform from which to continue growing our business in order to be recognised as a top 5 player.'