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Colliers to create market leader in Nordics

Acquisition of Pangea Property Partners boosts EMEA presence, strengthens Nordic leadership and capital markets service offering

London, 6 September 2022 – Leading diversified professional services and investment management company, Colliers (NASDAQ and TSX: CIGI), announced today that it has agreed to acquire a controlling interest in Pangea Property Partners (“Pangea”), a leading capital markets advisor in Sweden and Norway. Pangea’s footprint complements Colliers’ established and market-leading teams in Sweden, Denmark, and Finland. Pangea will merge with Colliers’ existing company-owned operations in Sweden and establish a new Colliers company-owned operation in Norway. At the close of the deal, Colliers will establish a Nordic region with over 550 professionals in Denmark, Finland, Norway, and Sweden. The Nordic region will have more than 80 capital markets experts serving our clients across the region.

The Pangea partners, together with the existing leadership team of Colliers Sweden, will retain a significant equity stake in the combined business under Colliers’ unique partnership model. The terms of the transaction were not disclosed.

Established in 2009, Pangea brings an exceptional leadership team and world-class expertise in capital markets, debt advisory and project finance operations from its offices in Oslo, Norway, and Stockholm in Sweden. With the formation of the Colliers Nordic region, the combined capital markets activity will make Colliers the market leader in the region, with over 27% of market activity based on full-year 2021 RCA data.

The combined operations will offer a full suite of services including, capital markets advisory, debt advisory, project finance, leasing and sales brokerage, valuations, and project management.

“Building on our top tier operations in Denmark and Finland, this merger adds market leadership in Norway and Sweden and together establishes Colliers as the dominant player in the entire Nordic region,” said Davoud Amel-Azizpour, CEO of Colliers | EMEA. “We are excited about our new partnership and the opportunity to leverage our best in class platform in this important and rapidly growing region.”

“Pangea has grown significantly over many years in the Nordics as well as internationally. The combination of Pangea and Colliers is a perfect match with our strategy and ambition to become the leading property advisor in the Nordics. It was important to us that we partnered with an organization that shares our business philosophy and culture,” said Bård Bjølgerud, Founding Partner and CEO of Pangea, who will assume the role of CEO, Nordics, Colliers.

“The number one position in the Nordic region has been open for quite some time. Combining our businesses will make Colliers the clear market leader. Looking forward, we intend to accelerate our Nordic region by focusing on our clients’ needs.”


The leadership team in the Nordics region will be:

  • Bård Bjolgerud, Founder and CEO of Pangea will assume the role of CEO, Nordics.
  • Daniel Gorosch will become Chief Commercial Officer, Nordics, current CEO in Sweden, Colliers.
  • Christian Winther, will become CFO, Nordics, currently CFO, Pangea.
  • Joakim Arvius, will become CEO, Sweden, currently CEO, Sweden, Pangea.
  • Håvard A. Nustad, will become CEO, Norway, currently CEO, Norway, Pangea.
  • Carsten Gortz Petersen will remain CEO, Denmark.
  • Ari Vanhanen will remain CEO, Finland.

202209 Announcement Team photo2

Left to right: Håvard A. Nustad, CEO, Norway, Pangea; Akshay Pachisia, Director, Strategic Investments, Global, Colliers; Joakim Arvius, CEO, Sweden, Pangea; Elias Mulamoottil, Co-Chief Investment Officer, Global, Colliers; Davoud Amel-Azizpour, CEO, EMEA, Colliers; André Lundberg, Head of Capital Markets, Sweden, Pangea; Chris McLernon, CEO, Real Estate Services, Global, Colliers; Bård Bjølgerud, Founder and CEO of Pangea; Daniel Gorosch, Chief Commercial Officer, Nordics, Colliers, Christian Winther, CFO, Pangea.


Related Experts

Davoud Amel-Azizpour

Chief Executive Officer EMEA

EMEA Finance

EMEA Headquarters

As Chief Executive Officer (CEO) for the EMEA region (Europe, Middle East and Africa), Davoud is responsible for establishing and leading the strategic direction and delivering business expansion through the fulfilment of our Enterprise ’25 growth strategy. Davoud joined Colliers in an Executive Board role in 2012 holding the position of Head of EMEA Finance and Corporate Development. In 2017 he became Chief Financial Officer for the region, before becoming the CEO for EMEA in 2022.

Focused on delivering the bold targets set in the five-year Enterprise ’25 growth strategy, Davoud supports organic growth through the EMEA expert country leadership team, business line expansion, particularly in Capital Markets, Property Management, and Occupier Services, and strategic acquisitions that enable the EMEA region to build at scale. Notable examples in the first six months of 2022 include:

·       The acquisition of Colliers Italy. Previously an affiliated full-service commercial real estate firm, and Antirion SGR S.p.A., one of the largest real estate investment management firms in Italy. Read more here

·       The expansion of Colliers’ Iberian Peninsula offering with the opening of a Portuguese office in Lisbon. Read more here

·       The strategic partnership agreement with Paragon, one of the UK’s largest independent building and project consultancies. Read more here

Before Colliers, Davoud began his career at KPMG and then moved to FTSE 100 listed Group Reed Elsevier plc.  Davoud also spent time working in the UK business of DTZ.

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Anna Silkstone

Head of Content

EMEA Marketing

London - West End

Anna is an experienced B2B marketer, communications and business development adviser. She specialises in content creation and the resultant campaign output. In her role as Head of Content, EMEA she develops compelling communications for multi-channel direct and social marketing, media and internal communications. This is done in partnership with the business line leaders, research, digital and creative leads.

Anna has developed all of her career experience in the real estate industry. This has included leading on market response campaigns, thought leadership content development, research report identification, production and launch, client engagement and market profiling campaigns, proposal responses and bid presentation management, value propositions for marketing material, trade show presence, stakeholder management, internal and external communications, and building a remote-working marketing team. 

Prior to Colliers Anna worked at the global law firm, Dentons LLP as a Senior Business Development Manager for the Real Estate team and latterly as Head of Campaigns for the UKIME region, focusing on Environmental, Social and Governance. Anna also worked at CBRE for over two years and supported the Occupier Services section of the EMEA business. Before CBRE, Anna was at Lambert Smith Hampton for nearly nine years in a regional marketing role and later as a UK campaign manager. 

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