Colliers Completes Consolidation of Colliers Germany Adds market-leading operations in Frankfurt and Dusseldorf
TORONTO, CANADA and SEATTLE, WASHINGTON, June 12, 2013 – FirstService Corporation (NASDAQ: FSRV and TSX: FSV) announced today that its subsidiary, Colliers International, has acquired controlling interests in Colliers Schon and Lopez Schmitt GmbH (“Colliers Frankfurt”) and Trombello Kölbel Immobilienconsulting GmbH (“Colliers Dusseldorf”), market leaders in Frankfurt and Dusseldorf, Germany. The senior management teams of both operations will remain with the business and retain the balance of the equity. The addition of Colliers Frankfurt and Colliers Dusseldorf follows the recent acquisitions of Colliers Munich, Colliers Stuttgart and Colliers Berlin and completes the consolidation of all Colliers International offices in Germany. The terms of the transactions were not disclosed.
Together, Colliers Germany provides investment sales, lease brokerage, property management, corporate services, hotel consulting and valuation services to local, regional, national and international clients and generated approximately US$75 million in revenue during 2012.
“Germany continues to be a focus for growth as it is one of the strongest and most established markets in Europe,” said Chris McLernon, CEO of the EMEA for Colliers International. “Adding two strong market leaders in Frankfurt and Dusseldorf completes the integration of the entire business in Germany allowing us to accelerate our growth throughout the region and reinforces our capacity to serve clients locally and on a global basis.”
“We have worked closely with the commercial real estate service professionals at Colliers Frankfurt and Colliers Dusseldorf for many years, so coming together was a natural next step,” said Achim Degen, Managing Partner of Colliers Germany. “Now that we control all of the Colliers International operations in Germany, we will be able to better leverage our combined operations and expertise, capitalise on global mandates and deliver customised real estate services to our clients seamlessly, anywhere in the world.”