Colliers to acquire leading Western Australian engineering firm
Colliers (NASDAQ, TSX: CIGI) has announced that its Engineering & Design Australia division will acquire Pritchard Francis Consulting, a leading Western Australian multi-discipline engineering consulting firm. This strategic move expands Colliers' geographic presence, scale, and service capabilities in Australia. Key points:
- Pritchard Francis, founded in 1977, has 125 professionals providing civil and structural engineering services
- The acquisition aligns with Colliers' goal to become a premier engineering consulting firm in Australia
- Pritchard Francis will rebrand as 'Colliers Engineering & Design' and integrate into Colliers' operations
- Senior leadership of Pritchard Francis will continue to lead the business and become shareholders in Colliers Engineering
The transaction is expected to close by the end of 2024, subject to customary conditions. Financial terms were not disclosed.
Colliers (NASDAQ, TSX: CIGI) ha annunciato che la sua divisione Engineering & Design Australia acquisirà Pritchard Francis Consulting, una delle principali aziende di consulenza ingegneristica multi-disciplinare dell'Australia occidentale. Questa mossa strategica amplia la presenza geografica, la scala e le capacità di servizio di Colliers in Australia. Punti chiave:
- Pritchard Francis, fondata nel 1977, conta 125 professionisti che offrono servizi di ingegneria civile e strutturale
- L'acquisizione è in linea con l'obiettivo di Colliers di diventare una delle principali aziende di consulenza ingegneristica in Australia
- Pritchard Francis sarà rinominata 'Colliers Engineering & Design' e si integrerà nelle operazioni di Colliers
- La leadership senior di Pritchard Francis continuerà a dirigere l'attività e diventerà azionista di Colliers Engineering
La transazione dovrebbe concludersi entro la fine del 2024, soggetta a condizioni consuete. I termini finanziari non sono stati divulgati.
Colliers (NASDAQ, TSX: CIGI) ha anunciado que su división Engineering & Design Australia adquirirá Pritchard Francis Consulting, una destacada firma de consultoría de ingeniería multidisciplinaria de Australia Occidental. Este movimiento estratégico amplía la presencia geográfica, la escala y las capacidades de servicio de Colliers en Australia. Puntos clave:
- Pritchard Francis, fundada en 1977, cuenta con 125 profesionales que proporcionan servicios de ingeniería civil y estructural
- La adquisición se alinea con el objetivo de Colliers de convertirse en una firma de consultoría de ingeniería de primer nivel en Australia
- Pritchard Francis se rebautizará como 'Colliers Engineering & Design' e integrará sus operaciones con Colliers
- El liderazgo senior de Pritchard Francis continuará dirigiendo el negocio y se convertirá en accionista de Colliers Engineering
Se espera que la transacción se cierre a finales de 2024, sujeta a condiciones habituales. No se divulgaron los términos financieros.
Colliers (NASDAQ, TSX: CIGI)는 Engineering & Design Australia 부서가 서호주에 위치한 다학제 엔지니어링 컨설팅 회사 Pritchard Francis Consulting을 인수할 것이라고 발표했습니다. 이 전략적 결정은 Colliers의 호주에서의 지리적 존재, 규모 및 서비스 능력을 확장합니다. 주요 사항:
- 1977년에 설립된 Pritchard Francis는 125명의 전문가가 민간 및 구조 공학 서비스를 제공합니다
- 이번 인수는 Colliers가 호주에서 최고의 엔지니어링 컨설팅 회사가 되려는 목표와 일치합니다
- Pritchard Francis는 'Colliers Engineering & Design'으로 브랜드를 변경하고 Colliers의 운영에 통합됩니다
- Pritchard Francis의 고위 경영진은 비즈니스를 계속 이끌고 Colliers Engineering의 주주가 됩니다
이 거래는 2024년 말까지 마무리될 것으로 예상되며, 일반적인 조건이 적용됩니다. 재정 조건은 공개되지 않았습니다.
Colliers (NASDAQ, TSX: CIGI) a annoncé que sa division Engineering & Design Australia va acquérir Pritchard Francis Consulting, une société de conseil en ingénierie multidisciplinaire de premier plan en Australie-Occidentale. Ce mouvement stratégique élargit la présence géographique, l'échelle et les capacités de service de Colliers en Australie. Points clés :
- Pritchard Francis, fondée en 1977, compte 125 professionnels offrant des services d'ingénierie civile et structurelle
- Cette acquisition s'aligne avec l'objectif de Colliers de devenir un cabinet de conseil en ingénierie de premier plan en Australie
- Pritchard Francis sera renommé 'Colliers Engineering & Design' et s'intégrera dans les opérations de Colliers
- La direction senior de Pritchard Francis continuera à diriger l'entreprise et deviendra actionnaire de Colliers Engineering
La transaction devrait se conclure d'ici la fin de 2024, sous réserve des conditions habituelles. Les termes financiers n'ont pas été divulgués.
Colliers (NASDAQ, TSX: CIGI) hat angekündigt, dass die Engineering & Design Australia-Division Pritchard Francis Consulting, eine führende multidisziplinäre Ingenieurbüro in Westaustralien, übernehmen wird. Dieser strategische Schritt erweitert die geografische Präsenz, den Umfang und die Dienstleistungsfähigkeiten von Colliers in Australien. Wichtige Punkte:
- Pritchard Francis, gegründet 1977, beschäftigt 125 Fachleute, die Dienstleistungen in den Bereichen Bau- und Strukturengineering anbieten
- Die Übernahme steht im Einklang mit Colliers' Ziel, eine führende Ingenieurbüro in Australien zu werden
- Pritchard Francis wird sich in 'Colliers Engineering & Design' umbenennen und in die Betriebe von Colliers integriert
- Die Führungskräfte von Pritchard Francis werden das Geschäft weiterhin leiten und Aktionäre von Colliers Engineering werden
Der Abschluss der Transaktion wird bis Ende 2024 erwartet, vorbehaltlich der üblichen Bedingungen. Finanzielle Einzelheiten wurden nicht bekannt gegeben.
- Expansion of Colliers' engineering services into Western Australia
- Addition of 125 professionals to Colliers' workforce
- Diversification of service offerings in transportation, property, land development, industrial, mining & resources, and public infrastructure
- Strengthening of Colliers' capabilities to serve regional and national clients
- Retention of Pritchard Francis' senior leadership team
- None.
Insights
The acquisition of Pritchard Francis by Colliers Engineering & Design Australia marks a strategic expansion into Western Australia, enhancing Colliers' geographic reach and service capabilities. This move aligns with Colliers' goal to become a premier engineering consulting firm in Australia, following their expansion into New South Wales last year. The addition of 125 professionals from Pritchard Francis will significantly boost Colliers' scale and expertise in civil and structural engineering services.
While financial terms weren't disclosed, the deal structure involving Pritchard Francis' leadership becoming shareholders in Colliers Engineering suggests a retention-focused approach. This partnership model could lead to improved synergies and long-term value creation. For investors, this acquisition represents a positive step in Colliers' growth strategy, potentially leading to increased market share and diversified revenue streams in the Australian engineering sector.
This acquisition strengthens Colliers' position in the Australian engineering consulting market, which has been experiencing steady growth due to increased infrastructure spending and urban development. By expanding into Western Australia, Colliers gains access to the state's booming mining and resources sector, potentially opening up new revenue streams.
The deal also reflects a broader trend of consolidation in the engineering services industry, as larger firms seek to expand their service offerings and geographical presence. For Colliers, this move could lead to improved competitiveness against other major players in the market. Investors should note that while this acquisition enhances Colliers' market position, the success of the integration and the ability to leverage Pritchard Francis' client base will be important factors in determining the long-term value of this deal.
Acquisition expands geographic presence, scale and service capabilities
TORONTO AND PERTH, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Global diversified professional services and investment management company, Colliers (NASDAQ, TSX: CIGI), announced today that Colliers Engineering & Design Australia (“Colliers Engineering”) has entered into a definitive agreement to acquire Pritchard Francis Consulting Pty Limited (“Pritchard Francis”), one of Western Australia’s leading multi-discipline engineering consulting firms.
Pritchard Francis’ senior leadership team will continue to lead the business in Western Australia and become significant shareholders in the Colliers Engineering platform under the unique Colliers partnership model. The business will rebrand as “Colliers Engineering & Design” and fully integrate into Colliers’ rapidly growing engineering operations. The transaction is subject to customary closing conditions and is expected to close by the end of this year. Terms of the transaction were not disclosed.
Founded in 1977, Pritchard Francis’ 125 professionals provide civil and structural engineering, design and related consulting services to diversified end markets including transportation, property, land development, industrial, mining & resources and public infrastructure.
“Following our successful expansion into New South Wales last year, this investment accomplishes another strategic objective in our goal to become one of Australia’s premier engineering consulting firms,” said John Kenny, CEO Ӏ Colliers Asia Pacific. “We are proud of the differentiated business we have built by leveraging the Colliers brand, infrastructure and enterprising culture that allow us to attract the best talent to our organization.”
“We are excited to welcome the well-respected professionals of Pritchard Francis to Colliers,” said Brent Thomas, Managing Director of Colliers Engineering. “The addition of this seasoned group enhances our scale, strengthens our capabilities and expands our geographic reach, allowing us to better meet the requirements of our regional and national clients.”
“Joining Colliers Engineering was a logical next step in our evolution and we are pleased to join a leading global professional services firm that shares our focus on client service excellence, employee experience and equity ownership,” said Arthur Psaltis, CEO, Pritchard Francis. “By integrating our operations with Colliers, we look forward to accelerating the growth of our business and the success of our clients and employees in the years to come.”
Colliers Contacts
John Kenny
Chief Executive Officer | Asia Pacific
+61 2 9257 0222
Brent Thomas
Managing Director | Colliers Engineering & Design Australia
+61 3 9562 7424
Pritchard Francis Contact
Arthur Psaltis
Chief Executive Officer
+08 9382 5111
About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 68 countries, our 22,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 29 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately
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