TORONTO AND FRANKFURT, May 29, 2018 – Leading global commercial real estate services firm Colliers International Group Inc. (NASDAQ and TSX: CIGI) today announced it has entered into a definitive agreement to acquire Engel & Völkers Main -Taunus GmbH the leading residential investment experts in the Frankfurt region, one of Germany’s most populous and a leading global financial centre. The business will be rebranded as Colliers International and integrated into existing operations increasing Colliers’ scale and capabilities throughout Frankfurt with the opportunities to significantly accelerate the division’s growth throughout Germany. The transaction is subject to customary closing conditions and is expected to close by the end of June 2018. No further details of the transaction were disclosed.
Founded in 2002 by Managing Director Felix von Saucken, the operation is comprised of a highly qualified team of professionals providing residential investment services to institutions and high net worth investors. Mr. von Saucken will join Colliers International as a Managing Director and will lead the residential investment operations locally and develop the capability across Germany.
“Residential investment is a stable and growing asset class in Germany and given its attractive return characteristics, very appealing to a broad range of investors,” said Matthias Leube, Colliers International Chief Executive Officer | Germany. “The addition of the Frankfurt business will strengthen our established residential team and the addition of a high calibre, industry leader in Mr. von Saucken to lead our national service line, will position Colliers to better serve our clients domestically and internationally.”
“By joining forces with Colliers International, we will benefit from their global brand and platform, positioning us to accelerate our growth in the Frankfurt region and across Germany,” said Mr. von Saucken. “Colliers’ focus on service excellence and its enterprising culture will create seamless integration with our existing business and we look forward to being in a position to better service our current and new clients going forward.”
“This is the third in a series of strategic acquisitions in EMEA this year, all of which increase our strength and breadth to better serve our clients,” said Chris McLernon Colliers International CEO | EMEA. “We will continue to pursue growth opportunities and strategic acquisitions that grow our market share, add service offerings and expand geographical presence, building further momentum that makes Colliers the real estate firm of choice for successful companies and enterprising people.”