Colliers International UK acquired by FirstService Corporation

Tony Horrell, CEO Colliers International UK

Property consultants, Colliers International UK, has been acquired by FirstService Corporation and will operate as a wholly ownedsubsidiary of the company.

FirstService owns almost 90 per cent of Colliers International (by revenue) globally and through this acquisition the firm is able to ensure there will be no disruption in service to its clients or business activities.

As part of the deal, FirstService will assume Colliers International’s UK ownership interests in Ireland and Spain.

The UK management team remains unchanged, with Tony Horrell continuing as CEO of Colliers International UK & Ireland and as part of Colliers International’s EMEA Board and International Governing Committee.

Tony Horrell said: “We are delighted to now be fully integrated with Colliers International globally. This deal means that we have recapitalised the UK business and have the financial might of FirstService behind us, who intend to invest further 

in our business, as well as the global strength and depth of Colliers International to call upon. 

“We remain passionate about the UK, one of the world’s leading real estate markets, and our local clients will remain our uppermost priority.”

David Smeeton, head of Colliers International's Birmingham office

Doug Frye, Chairman of Colliers International, added:“The EMEA region is a significant component of our global growth strategy and building a strong UK business is central to our success. The UK operations have been part of Colliers International for 17 years, and we know it is a great business, witexceptional employees and an excellent client list. I am confident that by combining our strengths we will accelerate the success of our clients and our people.

David Smeeton, head of Colliers International’s Birmingham office, said: “After months of speculation we’re pleased that the long-standing issue over the future of the firm has finally been put to bed.

“The decision will give certainty to our staff and clients, after what has been a prolonged period of uncertainty, and we can now move forward with confidence. It is very much business as usual in Birmingham.”


Advertisements
%d bloggers like this: