TORONTO, Sept. 2, 2015 (GLOBE NEWSWIRE) -- Leading global commercial real estate services firm Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIG) today announced the acquisition of former Cushman & Wakefield St Louis affiliate, Gateway Commercial ("Gateway"), a market-leading commercial real estate firm specializing in tenant representation, investment sales brokerage and property management. Gateway will rebrand as Colliers International and its team of 20 professionals will join Colliers International, St. Louis, effective immediately. Details of the transaction were not disclosed.
"Gateway has long been recognized for its experience and creativity in St. Louis while delivering fully integrated commercial real estate solutions nationally and internationally," said Martin Pupil, Colliers International President | Western Region. "Their best in class service offerings complement our existing capabilities in the region and position us well for the future."
"With the rapid consolidation of our industry, joining an organization with a shared culture and ability to serve clients locally, nationally and globally was a priority for us," said Managing Director & Principal, Kevin Gallagher, who will assume the leadership role for Colliers International, St. Louis. Robert Guimbarda will continue with Colliers St. Louis in the leadership role of Vice Chairman of the St. Louis advisory board, focused on business development and local platform strategy.
"Colliers International is the place where high values, creative and entrepreneurial people choose to make a difference and that culture of excellence aligns perfectly with our own. We could not be more thrilled with our choice of Colliers International," Gallagher concluded.
"The addition of an established market leader further enhances our existing service offerings in St. Louis, an important market in our central US region," said Craig Robinson, President of Colliers International | USA. "Colliers is already a market leader in Chicago and Kansas City and strengthening our capabilities in St. Louis was a natural choice for us, providing us with additional momentum throughout the entire region and across the country," he concluded.
About Colliers International Group
Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIG) is a global leader in commercial real estate services with more than 16,300 professionals operating from 502 offices in 67 countries. With an enterprising culture and significant inside ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include lease brokerage, global corporate solutions, investment sales and capital markets, project management and workplace solutions, property and asset management, consulting, valuation and appraisal services, and customized research and thought leadership. Colliers International has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals' Global Outsourcing for 10 consecutive years, more than any other real estate services firm.
Advisory Regarding Forward-Looking Information
Information in this press release that is not a historical fact is "forward-looking information". Words such as "plans", "intends", "outlook", "expects", "anticipates", "estimates", "believes", "likely", "should", "could", "will", "may" and similar expressions are intended to identify statements containing forward-looking information. Forward-looking information in this press release is based on current objectives, strategies, expectations and assumptions which management considers appropriate and reasonable at the time. The forward-looking information in this press release includes, but is not limited to, statements with respect to the expected future attributes of Colliers.
By its nature, forward-looking information is subject to risks and uncertainties which may be beyond the ability of Colliers to control or predict. The actual results, performance or achievements of Colliers could differ materially from those expressed or implied by forward-looking information. Factors that could cause actual results, performance, achievements or events to differ from current expectations include, among others, risks and uncertainties related to: the operations and financial condition of Colliers as a separately traded public company; business cycles, including general economic conditions in the countries in which Colliers operates, which will, among other things, impact demand for services and the cost of providing services; the ability of Colliers to implement its business strategy, including its ability to acquire suitable acquisition candidates on acceptable terms and successfully integrate newly acquired businesses with its existing businesses; changes in or the failure to comply with government regulations; changes in foreign exchange rates; increased competition; credit of third parties; changes in interest rates; and the availability of financing. Additional information on certain of these factors and other risks and uncertainties that could cause actual results or events to differ from current expectations can be found in Old FirstService's Annual Information Form for the year ended December 31, 2014 under the heading "Risk Factors" (which factors are adopted herein and a copy of which can be obtained at www.sedar.com). Certain risks and uncertainties specific to the arrangement transaction, Colliers and New FirstService are further described in the Management Information Circular of Old FirstService dated March 16, 2015. Other factors, risks and uncertainties not presently known to Colliers or that Colliers currently believes are not material could also cause actual results or events to differ materially from those expressed or implied by statements containing forward-looking information.
Readers are cautioned not to place undue reliance on statements containing forward-looking information that are included in this press release, which are made as of the date of this press release, and not to use such information for anything other than their intended purpose. Colliers disclaims any obligation or intention to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.
CONTACT: COMPANY CONTACT: John B. Friedrichsen Chief Financial Officer Phone: (416) 960-9500 MEDIA CONTACT: Margaret Meluzio Havas PR Phone: (646) 510-6578
Source:Colliers International Group Inc.