"Maxwell Brown's 32-year track record serving the UK market, combined with the expertise of its professionals, strengthens our capability to serve the UK market, where we see opportunities for further growth," said Robert Courteau, Chief Executive Officer of Altus Group. "London is one of the most important and strategic real estate markets globally and extending our depth of expertise to a wider area of London is consistent with our strategy."

Founded in 1983, Maxwell Brown is an independent provider of commercial real estate advisory services throughout the UK, with significant presence in the southern M25/M23 and South London markets. Maxwell Brown offers a comprehensive suite of advisory services related to property tax (occupied rates and empty rates services), property acquisition and disposal, lease renewals and other corporate real estate requirements. Their clients include institutional corporate property owners, property companies, developers and corporate occupiers. Maxwell Brown's team of 8 professionals will join Altus Group's global Property Tax business unit and will be integrated with Altus Edwin Hill in the UK.

"We are very excited to welcome Maxwell Brown's professionals to our team, whose expertise and reputation is highly regarded in our industry," said Alex Probyn, President of Altus Edwin Hill. "We see attractive growth opportunities in the UK market and believe that the synergies brought by this acquisition will help us meet a broader range of client needs and add significant value to our combined clients."

Maxwell Brown's co-owners Nick Woodman and Jonathan Broome, who will continue to have leading roles in the business, said: "Joining Altus Group has a number of strategic benefits for our clients, who increasingly require fully integrated real estate solutions. Altus Group's global scale, complementary advisory services and innovative software and data solutions will enhance our ability to serve our clients. We also look forward to working closely with Altus Group's UK regional offices to provide a comprehensive service throughout the London and South East property market."

The acquisition is expected to be financially accretive to adjusted earnings per share ("EPS"). Additional financial disclosure will be made available in the Company's next quarterly report.