 Savills announced in August 2016 that it had acquired GBR Phoenix Beard, a Midlands-based commercial property consultancy, strengthening its UK real estate services.Expansion continued in July 2017, with the acquisition of Larry Smith Italia, a leading commercial management and leasing business in Italy.The company's European operations grew further in December 2017 when Savills acquired Aguirre Newman S.A., the leading independent Spanish and Portuguese real estate advisory; the newly combined business was rebranded as Savills Aguirre Newman in January 2018.