Colliers acquires leading Australian engineering services firm

Rhea-AI Summary

Colliers Engineering & Design has announced its acquisition of a controlling interest in PEAKURBAN Pty Limited, a fast-growing Australian engineering firm. This marks Colliers' first international acquisition in the engineering sector, enhancing its service offerings and accelerating growth opportunities in Australia. PEAKURBAN will rebrand to Colliers Engineering & Design and integrate into current operations, with its senior leadership remaining significant shareholders. The transaction's financial details were not disclosed, but it aims to strengthen Colliers' presence in the Asia Pacific market.

Positive

• First international acquisition for Colliers Engineering & Design, indicating expansion strategy.
• Acquisition of PEAKURBAN enhances service offerings in Australia, leveraging local expertise.
• Synergistic integration expected to unlock new growth opportunities for clients and operations.

Negative

• None.

Colliers Engineering & Design expands capabilities internationally

TORONTO and SYDNEY, Australia, Aug. 02, 2022 (GLOBE NEWSWIRE) -- Leading diversified professional services and investment management company, Colliers (NASDAQ, TSX: CIGI), announced today it has acquired a controlling interest in PEAKURBAN Pty Limited (“PEAKURBAN”), one of the fastest growing engineering companies in Australia. The PEAKURBAN senior leadership team will remain significant shareholders of the business under Colliers’ unique partnership model. The business will rebrand as “Colliers Engineering & Design” and integrate into Colliers’ existing Australian operations. Terms of the transaction were not disclosed.

Founded in 2016, with more than 100 professionals operating from five offices in Australia, PEAKURBAN specializes in shaping communities with a focus on planning, due diligence, and engineering and design services for residential and mixed-use developments, civil infrastructure, water and wastewater, and industrial sectors.

“Building on our continued success in the U.S., PEAKURBAN represents the first international acquisition for our Colliers Engineering & Design business,” said Elias Mulamoottil, Co-Chief Investment Officer of Colliers. “Our differentiated approach continues to attract best-in-class firms who value our unique partnership model and long-term growth horizon, and who wish to thrive within our decentralised model and enterprising culture.”

“The expansion of Colliers Engineering & Design into Australia will complement our existing Project Management and Strategic Advisory capability and enhance our service offerings to unlock opportunities and accelerate growth for our clients and people,” said John Kenny, CEO Colliers Asia Pacific. “PEAKURBAN’s values and culture align strongly with ours and we are delighted to welcome these talented professionals to our organisation.” 

“Joining one of the most respected professional services organizations globally is an important step for us,” said Brent Thomas, Co-Founder and Managing Director of PEAKURBAN. “Our reputation for developing commercially smart and practical engineering and planning solutions, combined with Colliers’ deep infrastructure, enterprising culture and impressive performance over many years, will help create the best outcomes for our clients and people.” 

In connection with this transaction, Norton Rose Fulbright acted as legal advisor to Colliers. AEC Advisors acted as financial advisor and HWL Ebsworth acted as legal advisor to PEAKURBAN.  

Colliers Contacts
John Kenny
Chief Executive Officer | Asia Pacific
+61 2 9257 0222

Elias Mulamoottil
Co-Chief Investment Officer | Global
(416) 960-9500

PEAKURBAN Contact
Brent Thomas
Managing Director
+61 7 5413 5300

About Colliers

Colliers is a leading diversified professional services and investment management company. With operations in 62 countries, our 17,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of 20% for shareholders. With annual revenues of $4.3 billion and $77 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn. 

FAQ

What is the significance of Colliers' acquisition of PEAKURBAN for stock CIGI?

The acquisition signifies Colliers' commitment to international expansion, potentially increasing revenue and market presence in the Asia Pacific region, which could positively impact stock performance.

How will the PEAKURBAN acquisition affect Colliers' operations?

PEAKURBAN will integrate into Colliers' existing operations, enhancing their engineering and design capabilities in Australia, which may lead to improved service offerings and client opportunities.

What date was the acquisition of PEAKURBAN announced?

The acquisition was announced on August 2, 2022.

What will PEAKURBAN be renamed after the acquisition?

PEAKURBAN will be rebranded as Colliers Engineering & Design following the acquisition.

Who remains a shareholder in PEAKURBAN after the acquisition?

The senior leadership team of PEAKURBAN will remain significant shareholders under Colliers' partnership model.