TORONTO and RED BANK, N.J., July 13, 2020 (GLOBE NEWSWIRE) -- Leading global commercial real estate services and investment management firm, Colliers International (NASDAQ and TSX: CIGI), has completed its previously announced acquisition of a controlling interest in Maser Consulting P.A. (“Maser”), one of the leading multi-discipline engineering design service firms in the U.S. Under Colliers’ unique partnership model, Maser’s senior leadership team will continue to drive operations and will retain a significant equity stake in the business going forward. The operations will be rebranded as “Colliers Engineering Services” in the first half of 2021.
“Colliers enters the highly fragmented engineering design services sector as a major player while furthering our strategy of diversifying revenues with another essential, highly valued real estate service offering,” said Jay Hennick, Global Chairman and Chief Executive Officer of Colliers International. “Our new engineering division not only strengthens our Outsourcing & Advisory segment but also complements our tremendously successful Colliers Project Leaders project management business.”
“We are pleased to welcome the talented and entrepreneurial team from Maser into the Colliers family,” said Elias Mulamoottil, Head, Strategic Investments | Global of Colliers International. “By combining their best-in-class service offerings with our globally recognized brand and service platform, we can accelerate our collective growth in the $100 billion engineering design services sector and take advantage of the many opportunities to revitalize aging infrastructure in the U.S.”
“Our new partnership with Colliers – the first of its kind in our industry – is the next evolution of our business,” said Richard Maser, Maser Founder and Chairman. “As we look to significantly grow and scale our business, we are confident that Colliers’ enterprising culture, partnership philosophy, decentralized management style and access to capital, aligns perfectly with our goals.”
Kevin Haney, Maser CEO and President said, “We expect to hit the ground running as we combine Colliers’ specialized market knowledge and relationships with our own expertise across many different asset classes and end markets. Our partners and highly skilled professionals could not be more thrilled and look forward to leveraging our new partnership to accelerate growth in the years to come.”