Colliers adds leading regional engineering & design firm

Rhea-AI Summary

Colliers (CIGI) has announced the acquisition of KFW Engineers & Surveying, a San Antonio-based civil engineering firm, to enhance its Engineering & Design business unit's capabilities in Texas. The integration aims to capitalize on the region's rapid population growth. KFW's leadership will become significant shareholders in the CED platform and lead growth initiatives. This acquisition follows a record growth year for Colliers, and KFW's team brings valuable market knowledge and client relationships to the table.

Positive

• Acquisition of KFW enhances Colliers' scale and capabilities in the Southwest market.
• KFW's leadership team becomes significant shareholders, aligning interests for growth.
• The acquisition positions Colliers to capitalize on Texas' ongoing population boom.

Negative

• None.

Acquisition strengthens scale and capabilities in the fast-growing Southwest market

TORONTO and SAN ANTONIO, March 10, 2022 (GLOBE NEWSWIRE) -- Leading global professional services and investment management firm Colliers (NASDAQ and TSX: CIGI) today announced that its Colliers Engineering & Design (“CED”) business unit has acquired KFW Engineers & Surveying (“KFW”), a San Antonio-based civil engineering, design, and survey firm. The addition will enhance CED’s existing scale and capabilities in Texas and the Southwest. KFW operations will rebrand and be fully integrated into CED’s existing Texas operations by the fourth quarter of 2022. Under Colliers’ unique partnership model, KFW’s senior leadership team have become significant shareholders in the overall CED platform and will lead its growth in the rapidly growing Texas marketplace. Terms of the transaction were not disclosed.

Founded in 2006, KFW’s more than 100 engineers, licensed surveyors, and other professionals support the rapid population growth and related development in southern Texas by providing a fully integrated land development offering, including civil engineering, environmental and surveying services to homebuilders, school systems, and other commercial real estate developers.

“Partnering with the talented professionals at KFW is the latest in CED’s national growth ambitions following a record year of growth in 2021,” said Elias Mulamoottil, Co-Chief Investment Officer of Colliers. “Colliers continues to attract best-in-class firms who value our unique partnership model and long-term growth horizon, and who wish to thrive within a high quality, enterprising corporate culture.”

“The professionals at KFW have deep Texas roots and will provide us with specialized market knowledge, strong client relationships, and an enhanced presence in this important and high-growth market,” said Kevin Haney, President and CEO, CED. “Through KFW, we are perfectly positioned to capitalize on Texas’ population boom, and we are thrilled to welcome their team to the Colliers family.”

“Joining a large, multi-discipline engineering and design firm that shares our enterprising culture and focus on service excellence was the logical next step for us,” said Steven Krauskopf, Co-founder and Managing Partner of KFW. “There is tremendous growth opportunity in Texas, and we are excited to take a leadership role as we leverage the scale and capabilities of CED to accelerate our growth and success going forward,” added George Weron, Co-founder and Managing Partner of KFW.

In connection with this transaction, AEC Advisors acted as financial advisor to KFW.

About Colliers

Colliers (NASDAQ, TSX: CIGI) 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 $4.1 billion and more than $50 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.

Company Contacts:

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

Kevin L. Haney, PE
President and CEO | Colliers Engineering & Design
(732) 383-1950

FAQ

What is the impact of Colliers' acquisition of KFW Engineers & Surveying on CIGI's market position?

The acquisition strengthens CIGI's Engineering & Design unit's capabilities and market presence in Texas, a rapidly growing region.

When will the integration of KFW into Colliers Engineering & Design be completed?

KFW will be fully integrated into Colliers' Texas operations by the fourth quarter of 2022.

What benefits does KFW bring to Colliers following the acquisition?

KFW provides specialized market knowledge, strong client relationships, and enhanced presence in the high-growth Texas market.

How does this acquisition align with Colliers' growth strategy?

The acquisition is part of Colliers' national growth ambitions, following a record year of growth in 2021.

What is the significance of KFW's senior leadership becoming shareholders in CIGI?

This alignment of interests is expected to drive growth and success within the CED platform.