TORONTO and MINNEAPOLIS, April 03, 2017 (GLOBE NEWSWIRE) -- Leading global commercial real estate services firm Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIGI) announced today the acquisition of WelshCo LLC (“Welsh”) and its brokerage, property management, facilities and architecture divisions. Welsh has been an affiliate office of Colliers International since 2010. Terms of the transaction were not disclosed.
Founded in 1977, Welsh stands as a recognized market leader in the greater Minneapolis-St. Paul area for its commitment to clients, offering a full range of services for commercial real estate owners and occupiers. With more than 240 professionals, Welsh provides investment sales, lease brokerage, property management, facilities management, architecture services and project management to local, regional, national and global clients.
“This addition is the latest in a series of targeted strategic acquisitions across the U.S., specifically in the important Midwest region,” said Steve Everbach, Colliers International President | Central Region. “Adding our high-performing Minnesota affiliate as a fully integrated part of our global platform will further strengthen our company nationally and help leverage their managerial talents in other regions.”
“This partnership with Colliers is the next evolution of our business given our shared culture and focus on service excellence,” said Jean Kane, CEO of Welsh. “All of us in our Twin Cities offices are extremely excited about our extended relationship with Colliers International. By partnering with Colliers and leveraging the size, capital and established infrastructure of the Colliers global platform, we will stimulate the growth of our business and be positioned better than ever to serve the expanding needs of our clients and accelerate their success.”
“The Midwest is thriving and Colliers continues to enhance its market leading platform and pursue strategic growth in this important region,” said Marty Pupil, Colliers International President | U.S. Brokerage. “This investment reaffirms our confidence in Jean, her entire team, the Minnesota market, and it advances our goal of supporting best-in-class teams across our business.”
About Colliers International
Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIGI) is an industry-leading global real estate services company with 15,000 skilled professionals operating in 68 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 12 consecutive years, more than any other real estate services firm.
Advisory Regarding Forward-Looking Information
Certain information included in this news release is forward-looking, within the meaning of applicable securities laws. Much of this information can be identified by words such as “believe”, “expects”, “expected”, “will”, “intends”, “projects”, “anticipates”, “estimates”, “continues” or similar expressions suggesting future outcomes or events. Colliers believes the expectations reflected in such forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.
Forward-looking statements are based on current information and expectations that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those anticipated. These risks include, but are not limited to, risks associated with: (i) general economic and business conditions, which will, among other things, impact demand for Colliers’ services and the cost of providing services; (ii) the ability of Colliers to implement its business strategy, including Colliers’ ability to identify and acquire suitable acquisition candidates on acceptable terms and successfully integrate newly acquired businesses with its existing businesses; (iii) changes in or the failure to comply with government regulations; and (iv) such factors as are identified in the Annual Information Form of Colliers for the year ended December 31, 2016 under the heading “Risk Factors” (which factors are adopted herein and a copy of which can be obtained at www.sedar.com). Forward looking statements contained in this news release are made as of the date hereof and are subject to change. All forward-looking statements in this news release are qualified by these cautionary statements. Except as required by applicable law, Colliers undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
COMPANY CONTACT: John B. Friedrichsen Chief Financial Officer (416) 960-9500 Marty Pupil President | U.S. Brokerage (949) 724-5513
Source:Colliers International Group Inc.