Acquires market-leading Colliers Denmark affiliate to strengthen global platform
TORONTO, Jan. 12, 2017 (GLOBE NEWSWIRE) -- Leading global commercial real estate services firm Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIGI) announced today that it has acquired a controlling interest in Colliers International Denmark ("Colliers Denmark"). Senior management of Colliers Denmark will retain the balance of the equity under Colliers International's unique enterprise partnership model. The acquisition of Colliers Denmark further strengthens Colliers International's operations in Europe and provides a strong platform for future growth in the important Nordic region. The terms of the transactions were not disclosed.
Colliers Denmark employs approximately 100 real estate professionals in five offices across Denmark providing investment sales, lease brokerage, valuation and corporate services to local, regional, national and international clients in key markets throughout the region.
"Denmark is a strong and established market in Europe and represents an attractive growth opportunity for Colliers," said Chris McLernon, Colliers International CEO | EMEA. "Having a market-leading position in Denmark is another step in our strategy to grow in this region and will allow us to expand our operations throughout the Nordics, reinforcing our ability to serve clients wherever they do business."
"Having been affiliated with Colliers International for many years, this partnership is the natural next step for us, enabling us to expand our service offerings and further drive our growth in Denmark and the Nordic region," said Jeppe Schoenfeld, CEO of Colliers Denmark. "Our senior management team is committed to a long future with Colliers and looking forward to capitalizing on global mandates, while delivering high quality real estate services to our clients seamlessly, anywhere in the world. All of us at Colliers Denmark are extremely excited about our new partnership and the opportunity to grow together in the years to come."
"Over the years, Colliers International has grown by partnering with outstanding professionals like the team in Denmark, who have a strong passion for their business, a desire to continue growing, and a real focus on creating value by accelerating the success of their clients," said Jay S. Hennick, Chairman & CEO of Colliers International. "This addition is the latest in a series of strategic acquisitions that we have completed in Europe, where we continue to invest in our operations to elevate the Colliers International brand and platform as the global firm of choice for successful organizations and professionals who thrive within an enterprising culture," he concluded.
About Colliers International
Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIGI) 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.
John B. Friedrichsen
Chief Financial Officer
CEO, Colliers International EMEA
44 20 7487 1651
CEO, Colliers International Denmark
45 40 26 34 27
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Colliers International Group Inc. via Globenewswire