Colliers Engineering & Design finalizes agreement with Bergmann

Rhea-AI Summary

Colliers (NASDAQ and TSX: CIGI) has successfully integrated Bergmann, a leading engineering, architecture, and design firm based in the Northeast and Midwest U.S. This acquisition is part of Colliers Engineering & Design's strategy to enhance its service offerings and diversify revenue streams. Bergmann's leadership will remain in place, continuing to manage operations while retaining significant equity in the combined entity.

The rebranding of Bergmann under Colliers Engineering & Design is expected to occur in the latter half of 2022, further solidifying Colliers' market position.

Positive

• Acquisition of Bergmann expands Colliers' service offerings in the Northeast and Midwest.
• Bergmann's leadership will remain in place, ensuring continuity and expertise.
• The merger is aligned with Colliers' strategy to diversify revenues.

Negative

• None.

Strengthens scale and service offerings in the U.S. Northeast and Midwest

TORONTO and RED BANK, N.J., Nov. 01, 2021 (GLOBE NEWSWIRE) -- Leading global professional services and investment management firm, Colliers (NASDAQ and TSX: CIGI), today announced that Colliers Engineering & Design has completed the previously announced agreement for Bergmann to join its operating unit. Bergmann is a market-leading engineering, architecture, and design services firm located in the U.S. Northeast, Midwest and Mid-Atlantic regions. Bergmann’s senior leadership will continue to oversee operations and retain a significant shareholding in the combined business under Colliers’ unique partnership model.

As Colliers continues to strategically diversify its revenues and service offerings, this union builds on Colliers Engineering & Design’s momentum and success since the platform was established last year. The business will rebrand as part of Colliers Engineering & Design by the second half of 2022.

About Colliers

Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 66 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 26 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.3 billion ($3.6 billion including affiliates) and $45 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.

Colliers Contact:
Elias Mulamoottil
Head, Strategic Investments | Global
(416) 960-9500

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

 

FAQ

What did Colliers announce on November 1, 2021, regarding CIGI?

On November 1, 2021, Colliers announced the completion of the integration of Bergmann into Colliers Engineering & Design.

How does the acquisition of Bergmann affect Colliers' service offerings?

The acquisition strengthens Colliers' scale and service offerings in the U.S. Northeast and Midwest regions.

When will Bergmann be rebranded under Colliers Engineering & Design?

Bergmann is expected to rebrand under Colliers Engineering & Design by the second half of 2022.

What are the financial implications of the Bergmann acquisition for CIGI?

The acquisition is part of Colliers' strategy to diversify revenues, potentially leading to increased financial performance.