TORONTO, Jan. 07, 2016 (GLOBE NEWSWIRE) -- Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIG), a global leader in commercial real estate services, today announced the acquisition of Hatton Real Estate Limited (“Hatton”), one of London’s leading commercial property specialists. Concentrated in the “City Fringe” area of Central London, the new addition further strengthens the investment and office agency practice of Colliers International in the United Kingdom. Details of the transaction were not disclosed.
Founded in 2010, Hatton has fast become the leading property advisor in the rapidly evolving City Fringe market, or “Tech City”, which is seen as the epicenter of the UK's digital economy. Hatton provides agency leasing, investment, development and tenant representation services to some of the UK’s most innovative and successful companies. Hatton will rebrand as Colliers International immediately and will relocate to a new and expanded office in Old Street in March 2016.
“As the most progressive commercial real estate firm in the UK, Colliers continues to look for ways to strengthen and diversify our business in major markets, particularly in London, and by adding this high quality and innovative team of real estate professionals we have taken our business to another level,” said Tony Horrell, CEO of Colliers International UK and Ireland. “The City Fringe is now considered to be one of London’s most sought after commercial and residential districts and Hatton’s stronghold in the area combined with its entrepreneurial and collaborative approach to serving its clients will be an excellent fit with Colliers International,” he concluded.
“When considering our future, it was important that our new partners embraced our unique culture and working ethos,” said Shaun Simons, one of the senior partners of Hatton. “Together with Colliers International’s ‘best -in-class’ London Office team we believe that we can create one of the most powerful agency forces in Central London. For us, this is the start of a new and exciting chapter in our history and we are certain that combining our culture and local expertise with the Colliers’ global platform and experience will accelerate the success of our clients and real estate professionals for many years to come,” he concluded.
“I would like to welcome this fine group of real estate service professionals,” said Chris McLernon CEO of the EMEA for Colliers International. “This is another example of Colliers International being the firm of choice for best in class people who have an enterprising culture and continually challenge themselves to bring new and innovative ideas to our clients,” 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.
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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.
COMPANY CONTACT: John B. Friedrichsen Chief Financial Officer Phone: (416) 960-9500 Tony Horrell CEO, Colliers International I UK & Ireland Phone: + 44 20 7487 1666
Source:Colliers International Group Inc.