The combined team of 213 will significantly grow Colliers’ capabilities in the core discipline of project & building consultancy and further enhance it’s service offering to clients, according to the firm.

Financial details of the deal were not disclosed.

Tony Horrell, CEO of Colliers UK and Ireland, said: There is significant opportunity to grow our capabilities in this core discipline across the UK and further afield in Europe, and this strategic partnership maximises the great synergy that exists between our two service offerings, bringing together best-in-class advisors who share the same values and work ethic to provide value-add for clients that maintain and create lasting relationships.

'Like us, Paragon’s people place great importance on creating meaningful relationships, collaborating with colleagues and providing expert guidance to our clients. I am excited about what we can achieve together.'

Established in 2009 by ten founding partners, Paragon works across project management, project monitoring, cost management, building surveying and due diligence services, while also offering a growing environmental, energy and sustainability service line. It has six offices across the UK.

John Munday, co-managing director of Paragon and now co-head of Project & Building Consultancy, Colliers, added: 'Our success is built upon our clients’ experience of us. Similar to us, Colliers consistently receives excellent client feedback and believe in a hands-on, director-led approach to service delivery that brings a wealth of knowledge to every project.

'This strategic partnership allows us to build critical mass together in key service areas and tap into Colliers’ global platform, whilst maintaining our culture and core values which has always been key to our success.'

The deal brings the Colliers’ total headcount for project & building consultancy across the UK to 213. Over the coming months, Paragon will begin the process of integrating the P&BC teams in London, Bristol, Manchester, Edinburgh and Leeds. The partnership will also see the firm add an additional office in Esher to strengthen its regional presence, where Paragon currently has a team of 36 people.

Robert Perry, co-managing director of Paragon and now co-head of project & building consultancy, Colliers, concluded: 'Since setting up Paragon in 2009, we have remained focussed on continually developing what has made us successful – our clients and our people. We strongly believe that this strategic partnership with Colliers is the natural next step in this journey.

'At Paragon, we have always encouraged charisma, ambition and a fun environment which has, and will continue to be, intrinsic to our commercial success, underpins our relationships, and sets us apart from the competition.

'Colliers’ culture is very much aligned with our core values and we’re looking forward to seeing our like-minded people and cultures come together to create a positive, supportive and social environment where all our people and our clients can prosper.'