Colliers Completes Acquisition of Englobe
Rhea-AI Summary
Colliers (NASDAQ, TSX: CIGI) has successfully completed its acquisition of a controlling interest in Englobe , a prominent Canadian engineering, environmental, and inspection services firm. This strategic move marks Colliers' entry into the Canadian engineering market and significantly enhances its capabilities in its growing Engineering division.
The acquisition, previously announced and now finalized, aligns with Colliers' strategy to diversify its professional services and investment management portfolio. By integrating Englobe's multi-discipline expertise, Colliers is poised to strengthen its position in the engineering sector and expand its service offerings in Canada.
Positive
- Entry into the attractive Canadian engineering marketplace
- Enhancement of capabilities in Colliers' growing Engineering division
- Diversification of professional services portfolio
- Acquisition of a leading multi-discipline engineering firm
Negative
- None.
News Market Reaction
On the day this news was published, CIGI declined 2.12%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
TORONTO and LAVAL, Quebec, July 30, 2024 (GLOBE NEWSWIRE) -- Global diversified professional services and investment management company, Colliers (NASDAQ, TSX: CIGI), announced today it has completed its previously announced acquisition of a controlling interest of Englobe Corporation (“Englobe”), a leading Canadian multi-discipline engineering, environmental and inspection services firm. The acquisition represents Colliers’ entry into the attractive Canadian engineering marketplace and enhances our capabilities in our growing Engineering division.
Colliers Contacts
Elias Mulamoottil
Co-Chief Investment Officer
Christian Mayer
Chief Financial Officer
(416) 960-9500
About Colliers
Colliers is a leading diversified professional services and investment management company. With operations in 68 countries, our 19,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 29 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately
About Englobe
Headquartered in Laval, Englobe is a leading engineering and environmental services firm with a well-established network of offices and facilities across Canada. The Company’s 2,800+ team members include engineers, professionals, technicians and technical support staff. Englobe offers a broad suite of services from engineering, design and inspection to environmental consulting and remediation. It completes over 25,000 projects annually for public and private sector clients. For more information, visit https://www.englobecorp.com/.
FAQ
What company did Colliers (CIGI) acquire in July 2024?
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