Colliers acquires H2SO leading property specialists in London
Addition strengthens Colliers International’s investment and office agency practice in UK and Europe
TORONTO, CANADA and LONDON, ENGLAND, June 16, 2014 – FirstService Corporation (NASDAQ: FSRV; TSX: FSV) announced today that its subsidiary, Colliers International (“Colliers”) has acquired H2SO, one of London’s leading independent commercial property specialists.
The new business will strengthen and expand the rapidly growing UK operations of Colliers, augment its existing investment and office agency expertise and complement the acquisition completed earlier in the year of a leading retail specialist. The addition will also expand operations throughout the UK, Europe and globally as more clients’ seek service providers to advise them on real estate transactions around the world. During 2013, H2SO generated approximately US$12 million in annual revenue.
Founded in 2009, H2SO employs a large group of high-quality commercial property professionals providing clients with unique market insight and a value-added approach to leasing, investment, development and asset management instructions. Since inception, the business has advised on over £5 billion of capital transactions and leasing instructions representing more than 2.5 million square feet (232,000 square meters) of commercial and office space. Industry leaders Paul Smith, David Hanrahan, Rob Hayes and John Olney will lead the combined Colliers Central London Offices team of more than 40 professionals from 50 George Street in the West End as well as Colliers’ new office at 35 King Street in the City.
“One of our key strategic goals is to expand our UK transactional business, particularly in London, and build a team of industry leading professionals that can serve the most discerning clients. This combination of professionals from both organizations will allow us to ‘raise the bar’ even further in the Central London investment and office market and contribute to the changing landscape of one of the world’s leading and most exciting cities,” said Tony Horrell, CEO of Colliers UK and Ireland. “Both firms have an enterprising culture and approach to excellence that will help define our service offerings for many years to come,” he concluded.
“Integrating our business with Colliers was a natural step for us and one that enables all of our professionals to broaden their service capabilities and service their clients globally,” said Rob Hayes of H2SO. “Leveraging our combined operations with the expertise and resources of Colliers, the third largest player in commercial real estate globally, will enable us to capitalise on global mandates and deliver customised real estate services to our clients seamlessly, anywhere in the world. We are all thrilled with this development and look forward to the opportunity to grow and develop the business for many years to come.”