Colliers to create market leader in Nordics

Rhea-AI Summary

Colliers (NASDAQ and TSX: CIGI) is set to enhance its presence in the EMEA region by acquiring a controlling interest in Pangea Property Partners, a prominent capital markets advisor in Sweden and Norway. This merger aims to strengthen Colliers’ market leadership in the Nordic region, combining over 550 professionals across Denmark, Finland, Norway, and Sweden. With this move, Colliers is positioned to capture more than 27% of market activity, making it a dominant player in capital markets services, debt advisory, and project finance.

Positive

• Acquisition of Pangea Property Partners strengthens Colliers' presence in the Nordic region.
• The merger will establish a new company-owned operation in Norway.
• Colliers will have over 80 capital markets experts, enhancing service offerings.
• The combined operations will position Colliers as the market leader with over 27% market share.

Negative

• None.

Acquisition of Pangea Property Partners boosts EMEA presence, strengthens Nordic leadership and capital markets service offering

LONDON and STOCKHOLM, Sweden and OSLO, Norway and HELSINKI, Finland and COPENHAGEN, Denmark, Sept. 06, 2022 (GLOBE NEWSWIRE) -- Leading diversified professional services and investment management company, Colliers (NASDAQ and TSX: CIGI), announced today that it has agreed to acquire a controlling interest in Pangea Property Partners (“Pangea”), a leading capital markets advisor in Sweden and Norway. Pangea’s footprint complements Colliers’ established and market-leading teams in Sweden, Demark, and Finland. Pangea will merge with Colliers’ existing company-owned operations in Sweden and establish a new Colliers company-owned operation in Norway. At the close of the deal, Colliers will establish a Nordic region with over 550 professionals in Denmark, Finland, Norway, and Sweden. The Nordic region will have more than 80 capital markets experts serving our clients across the region.

The Pangea partners, together with the existing leadership team of Colliers Sweden, will retain a significant equity stake in the combined business under Colliers’ unique partnership model. The terms of the transaction were not disclosed.

Established in 2009, Pangea brings an exceptional leadership team and world-class expertise in capital markets, debt advisory and project finance operations from its offices in Oslo, Norway, and Stockholm in Sweden. With the formation of the Colliers Nordic region, the combined capital markets activity will make Colliers the market leader in the region, with over 27% of market activity based on full-year 2021 RCA data.

The combined operations will offer a full suite of services including, capital markets advisory, debt advisory, project finance, leasing and sales brokerage, valuations, and project management.

“Building on our top tier operations in Denmark and Finland, this merger adds market leadership in Norway and Sweden and together establishes Colliers as the dominant player in the entire Nordic region,” said Davoud Amel-Azizpour, CEO of Colliers, EMEA. “We are excited about our new partnership and the opportunity to leverage our best in class platform in this important and rapidly growing region.”  

“Pangea has grown significantly over many years in the Nordics as well as internationally. The combination of Pangea and Colliers is a perfect match with our strategy and ambition to become the leading property advisor in the Nordics. It was important to us that we partnered with an organization that shares our business philosophy and culture,” said Bård Bjølgerud, Founding Partner and CEO of Pangea, who will assume the role of CEO, Nordics, Colliers.

“The number one position in the Nordic region has been open for quite some time. Combining our businesses will make Colliers the clear market leader. Looking forward, we intend to accelerate our Nordic region by focusing on our clients’ needs.”

Contact details:

Davoud Amel-Azizpour
Chief Executive Officer | EMEA
+44 (0) 20 7487 7020

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ca152461-a913-4ddd-b54d-17c15f7b0475

FAQ

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

The acquisition strengthens Colliers' presence in the Nordic region, enhancing its market leadership.

How many professionals will Colliers have after acquiring Pangea?

Colliers will have over 550 professionals in the Nordic region post-acquisition.

What market share will Colliers hold after the merger with Pangea?

Colliers is set to capture more than 27% of the capital markets activity in the Nordic region.

When was the acquisition of Pangea Property Partners announced?

The acquisition was announced on September 6, 2022.

What services will the combined Colliers and Pangea operations offer?

They will offer capital markets advisory, debt advisory, project finance, leasing, sales brokerage, valuations, and project management.