Addition strengthens existing practice in the UK and extends to Western Europe
TORONTO, Oct. 11, 2016 (GLOBE NEWSWIRE) — Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIG), a global leader in commercial real estate services, today announced the acquisition of Bollingbrook Limited (“Bollingbrook”), one of the UK’s leading commercial building consultancy, quantity surveying and project management practices. The business will be rebranded as Colliers International and integrated into the existing Project & Building Consultancy operations increasing its scale and capabilities throughout the UK and extending into Western Europe. Details of the transaction were not disclosed.
Founded in 1999, Bollingbrook is a highly regarded building consultancy, providing services to real estate occupiers and owners, including portfolio acquisition surveys, dilapidations advice, project management and cost control for blue-chip corporations and investment manager clients. The combined Project & Building Consultancy team will now total more than 70 professionals operating from fourteen offices across the UK, led by Colliers’ Gary Powell and Graeme Foreman as well as Bollingbrook’s founders Guy Rockingham and Peter Radford.
“This acquisition marks another important step forward in Colliers’ continuing growth story. Bollingbrook’s impeccable reputation as a provider of considered and enterprising advice to clients in all areas of its business is second to none,” said Tony Horrell, CEO of Colliers International UK & Ireland. “Their reputation in quantity surveying certainly augments our existing service offerings and ensures Colliers remains on course to achieve its ambition to be a leading provider in all aspects of building surveying and project management services across the UK and Europe,” he concluded.
“For us core values and a keen focus on service excellence were the most important factors in selecting our future partner,” said Guy Rockingham, Director, Colliers International. “Like Colliers, we believe our people are our greatest asset and fulfilling the needs of our clients with great professionalism is at the heart of everything we do,” he concluded.
“Together with Colliers we have “best-in-class” capabilities across the board and we are confident our business will thrive by leveraging the resourcing and capabilities of a true global leader in commercial real estate,” said Peter Radford, Director, Colliers International. “For us, this is the beginning of the next chapter in our history and combining our culture and local expertise with the Colliers’ global platform and experience will accelerate the success of our clients and real estate professionals for many years to come,” he concluded.
“This addition is the latest in a series of strategic acquisitions that we have completed in Europe and is our fourth strategic investment in the UK in the past two years. We continue to invest in our operations to reinforce the Colliers International brand and platform as the global firm of choice for organizations and professionals who seek to align with a company differentiated by an enterprising culture,” said Chris McLernon CEO of the EMEA for Colliers International.
About Colliers International
Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIG) is an industry leading global real estate services company with more than 16,000 skilled professionals operating in 66 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 11 consecutive years, more than any other real estate services firm.
Advisory Regarding Forward-Looking Information
Certain information included in this news release is forward-looking, within the meaning of applicable securities laws. Much of this information can be identified by words such as “believe”, “expects”, “expected”, “will”, “intends”, “projects”, “anticipates”, “estimates”, “continues” or similar expressions suggesting future outcomes or events. Colliers believes the expectations reflected in such forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.
Forward-looking statements are based on current information and expectations that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those anticipated. These risks include, but are not limited to, risks associated with: (i) general economic and business conditions, which will, among other things, impact demand for Colliers’ services and the cost of providing services; (ii) the ability of Colliers to implement its business strategy, including Colliers’ ability to identify and acquire suitable acquisition candidates on acceptable terms and successfully integrate newly acquired businesses with its existing businesses; (iii) changes in or the failure to comply with government regulations; and (iv) such factors as are identified in the Annual Information Form of Colliers for the year ended December 31, 2015 under the heading “Risk Factors” (which factors are adopted herein and a copy of which can be obtained at www.sedar.com). Forward looking statements contained in this news release are made as of the date hereof and are subject to change. All forward-looking statements in this news release are qualified by these cautionary statements. Except as required by applicable law, Colliers undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
COMPANY CONTACT: John B. Friedrichsen Chief Financial Officer Phone: (416) 960-9500 Tony Horrell CEO, Colliers International I UK & Ireland Phone: + 44 20 7487 1666