Colliers completes Nordic acquisition of Pangea Property Partners

Rhea-AI Summary

Colliers Acquires Pangea Property Partners to Strengthen Nordic Operations

On December 2, 2022, Colliers (CIGI) announced the acquisition of Pangea Property Partners, enhancing its service capabilities in Norway and Sweden. The merger results in a Nordic region team of over 550 professionals, including 80 capital markets experts, making Colliers the market leader. Key leaders from both companies will oversee the new structure, with Bård Bjølgerud as CEO of Colliers Nordics. This strategic move aims to leverage Colliers’ global platform for improved service delivery to clients across the region.

Positive

• Colliers becomes the market leader in the Nordic region with over 550 professionals.
• Strengthens capital markets expertise with more than 80 specialists.
• Strategic merger expected to enhance service delivery to domestic and international clients.

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• None.

Regional real estate leader formed to offer full suite of services to investors, owners, and occupiers

LONDON, Dec. 02, 2022 (GLOBE NEWSWIRE) -- Leading diversified professional services and investment management company, Colliers (NASDAQ and TSX: CIGI), announced today that it has concluded its acquisition of Pangea Property Partners (“Pangea”) in Norway and Sweden. The merging of the businesses sees Colliers building on its top-tier operations in Denmark and Finland, and forming a Nordic region that will offer a complete suite of services for owner, occupier and investor clients from its operations in Sweden, Norway, Finland and Denmark. From this date, Colliers is the leader in the Nordic region with over 550 professionals, including more than 80 capital markets experts.

“This merger sees Colliers become the market leader in this important region. Through the expert leadership we have in place, we will differentiate the service we provide to leading domestic and international clients across the Nordic region. Our leading capital markets, occupier services and property management experts will accelerate our service delivery to our clients in the Nordic region,” explained Davoud Amel-Azizpour, CEO of Colliers, EMEA.

In the merged businesses in the new Colliers Nordics region, Bård Bjølgerud becomes Chief Executive Officer of Colliers Nordics, Christian Winther is the Chief Financial Officer of Colliers Nordics and Daniel Gorosch is the Chief Commercial Officer of Colliers Nordics. Our already established stronghold continues in Denmark and Finland under the leadership of Carsten Gortz Petersen, CEO of Denmark and Ari Vanhanen, CEO of Finland and Head of Property Management for Colliers Nordics.

New country leadership appointments include Håvard A. Nustad as CEO of Norway and Joakim Arvius as CEO of Sweden, both formerly of Pangea.

Bård Bjølgerud, CEO of Colliers Nordics, said: “With the close of this deal, the teams can formally cement their working relationships under the Colliers Nordics structure. We are confident that the impact of merging these two ambitious businesses, which boast a depth of experience, track record, and shared enterprising culture, will maximise the potential of real estate for our clients in the Nordic region. We are very much looking forward to leveraging Colliers’ best-in-class global platform.”

The terms of the deal were not disclosed.

For further information, please contact:

Media Contact
Anna Silkstone
Head of Content | EMEA
Anna.Silkstone@colliers.com
+44(0) 7858 193057

About Colliers
Colliers is a leading diversified professional services and investment management company. With operations in 63 countries, our 17,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of 20% for shareholders. With annual revenues of $4.5 billion and $81 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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/753b97b8-46c1-4e5c-a16f-16703265516c

FAQ

What is the significance of Colliers' acquisition of Pangea Property Partners?

The acquisition positions Colliers as the market leader in the Nordic region, enhancing its service offerings to clients.

How many professionals will Colliers have in the Nordic region after the acquisition?

Colliers will have over 550 professionals in the Nordic region following the merger.

Who will lead Colliers Nordics after the acquisition of Pangea?

Bård Bjølgerud has been appointed as the CEO of Colliers Nordics.

What are the expected benefits of the merger for Colliers clients?

The merger aims to accelerate service delivery and leverage Colliers' global platform for enhanced client support.

When was the acquisition of Pangea by Colliers announced?

The acquisition was announced on December 2, 2022.