TORONTO, CANADA and LONDON, ENGLAND, February 10, 2014 – FirstService Corporation (NASDAQ: FSRV; TSX: FSV) announced today that its subsidiary, Colliers International (“Colliers”) has acquired Briant Champion Long (“BCL”), one of the United Kingdom’s leading independent retail property specialists. BCL will be integrated into the operations of Colliers UK and be led by Managing Partner, Mark Phillipson. Building on the successful acquisition of the UK operations of Colliers International in 2012, this transaction not only strengthens Colliers’ presence in London, one of the world’s leading retail property markets, but also expands its reach into Europe and around the world. Terms of the transaction were not disclosed.
Founded in 1987, BCL employs more than 30 professionals and provides agency, investment and lease advisory consultancy to a wide range of retail clients, landlords and investors. BCL is currently engaged in letting more than 4 million sq. ft. of retail space in the UK and over the past year, completed more than 800 transactions and acted on more than £425 million of investment transactions. The BCL operations generated approximately US$9.0 million in revenue during 2013.
“BCL complements our existing retail business and is consistent with our aggressive growth strategy for the UK,” said Tony Horrell, CEO of Colliers UK and Ireland. “Combining our capabilities in this area establishes us as one of the top players in the retail agency, investment and advisory sectors in the UK, and leverages our global platform providing retail property specialty services across major markets in Europe and internationally.”
“This is a fantastic opportunity for our professionals to expand our business nationally and internationally,” said Mark Phillipson. “Colliers was the only company we considered given its enterprising culture, ambitious growth plans in the UK and market-leading position globally. All of our key people see this as an exciting opportunity to take our business to the next level while delivering superb service for our clients. We look forward to continuing to accelerate our success as part of Colliers International.”
“The addition of BCL and its strong group of professionals strengthens our capabilities in the UK and is another step forward in our strategy to grow and consolidate the commercial real estate industry in Europe and globally,” said Chris McLernon, CEO of Colliers International, EMEA. “This transaction is another example of our disciplined approach – partnering with high quality professionals that are aligned with our culture, while deploying our capital prudently to grow our business internally and through acquisition”.