TORONTO and NEW YORK, Nov. 3, 2015 (GLOBE NEWSWIRE) -- Leading global commercial real estate services firm Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIG) announced today the acquisition of, Colliers International Atlanta. The current shareholders of Colliers Atlanta will continue to retain equity in the business under Colliers' unique partnership model. Terms of the transaction were not disclosed.
Founded in 1967, Colliers International Atlanta stands as a recognized market leader for its commitment to clients, offering a full range of services for commercial real estate owners and occupiers. Comprised of more than 250 professionals, Colliers International Atlanta provides investment sales, lease brokerage, capital markets, property management and project management to local, regional, national and international clients.
"The leadership of the Atlanta business has been actively involved in the growth of Colliers in the U.S., and the full integration of their business into our global enterprise will further strengthen our platform nationally and help leverage their managerial talents in other regions," said Joseph Harbert, Colliers International President | Eastern Region.
"This move by our Atlanta team is simply a natural progression of our business given our shared culture and relentless focus on service excellence," said Bob Mathews, President & CEO of Colliers International Atlanta. "This transaction gives Colliers International Atlanta access to the level of growth capital it requires to serve the expanding needs of our clients. We will be unique in Atlanta as the only global public commercial real estate firm that offers local ownership," he concluded.
"The Southeast is a thriving market and Colliers continues to enhance its market leading platform and pursue strategic growth, as evidenced through recent acquisitions and hires we've made in the region," said Craig Robinson, President of Colliers International | USA. "This investment reaffirms our dedication to the Atlanta market and advances our goals of supporting a best-in-class team to service clients in this region."
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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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.
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