TORONTO and SYDNEY, Australia, Aug. 02, 2022 (GLOBE NEWSWIRE) — Colliers (NASDAQ, TSX: CIGI), a leading diversified professional services and investment management firm, today announced the acquisition of a majority stake in PEAKURBAN Pty Limited (“PEAKURBAN”), one of Australia’s fastest growing engineering companies. PEAKURBAN’s management team will remain a significant shareholder in the company under Colliers’ unique partnership model. The business will be rebranded as ‘Colliers Engineering & Design’ and will integrate with Colliers’ existing Australian operations. Terms of the transaction were not disclosed.
Founded in 2016, with over 100 professionals operating from five offices in Australia, PEAKURBAN specializes in shaping communities with a focus on planning, due diligence and engineering and design services for developments residential and mixed-use, civil infrastructure, water and wastewater, and industrial sectors.
“Building on our continued success in the United States, PEAKURBAN represents the first international acquisition for our Colliers Engineering & Design business,” said Elias Mulamoottil, Co-Chief Investment Officer of Colliers. “Our differentiated approach continues to attract top companies who value our unique partnership model and long-term growth horizon, and who want to thrive within our decentralized model and corporate culture.”
“Colliers Engineering & Design’s expansion into Australia will complement our existing project management and strategic consulting capabilities and enhance our service offerings to unlock opportunities and accelerate growth for our customers and associates,” said John Kenny. , CEO of Colliers Asia Pacific. “PEAKURBAN’s values and culture align strongly with our own and we are delighted to welcome these talented professionals to our organization.”
“Joining one of the world’s most respected professional services organizations is a significant milestone for us,” said Brent Thomas, co-founder and CEO of PEAKURBAN. “Our reputation for developing commercially intelligent and practical engineering and planning solutions, combined with Colliers’ deep infrastructure, company culture and impressive track record over many years, will help create the best outcomes for our customers and employees.”
In connection with this transaction, Norton Rose Fulbright acted as legal counsel to Colliers. AEC Advisors acted as financial advisor and HWL Ebsworth acted as legal advisor to PEAKURBAN.
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Colliers is a leading diversified professional services and investment management firm. With operations in 62 countries, our 17,000 enterprising professionals work together to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant internal ownership has generated 20% compound annual returns for shareholders. With annual revenues of $4.3 billion and $77 billion in assets under management, Colliers maximizes the potential of properties and real estate assets to accelerate the success of our clients, investors and people. For more information, visit corporate.colliers.com, Twitter @Colliers or LinkedIn.