Colliers continues to enhance engineering offering in Canada

Rhea-AI Summary

Colliers (NASDAQ, TSX: CIGI) has announced that its Canadian engineering platform Englobe Corporation has acquired Herold Engineering Limited, a leading engineering consulting firm in British Columbia. Founded in 1994, Herold brings 75 professionals specializing in consulting services for building, municipal, transportation, and marine projects throughout British Columbia, primarily on Vancouver Island. The acquisition follows Colliers' recent purchase of Higher Ground in Western Canada, advancing their goal of becoming a regional leader. Herold's leadership team will maintain operational control and become shareholders of Englobe under Colliers' partnership model. This strategic move enhances Englobe's design and consulting capabilities in British Columbia, enabling better service delivery across major Canadian markets.

Positive

• Acquisition of Herold Engineering adds 75 skilled professionals to Englobe's workforce
• Expansion of geographic footprint and service capabilities in British Columbia
• Strategic alignment with recent Higher Ground acquisition strengthens Western Canada presence
• Retention of Herold's leadership team ensures operational continuity

Negative

• None.

Insights

M&A Strategy Expert

Colliers expands Canadian engineering footprint through strategic acquisition, strengthening western presence with complementary capabilities.

This acquisition of Herold Engineering represents a strategic expansion of Colliers' engineering capabilities in Western Canada, specifically British Columbia. With 75 professionals joining from Herold, this transaction enhances Englobe's service capabilities in the region while expanding Colliers' geographic footprint.

The deal follows Colliers' recent acquisition of Higher Ground in Western Canada, revealing a deliberate regional growth strategy to become a leading player in the area. This pattern of targeted acquisitions shows Colliers is methodically building scale in the engineering consulting market across Canada.

Particularly noteworthy is Colliers' retention of Herold's leadership team as Englobe shareholders, utilizing their partnership ownership model that aligns incentives and typically helps retain key talent. This approach has proven effective in professional services firms where human capital is the primary asset.

The acquisition brings several strategic advantages: it diversifies Colliers' engineering portfolio with Herold's expertise in building, municipal, transportation, and marine projects; strengthens its position specifically on Vancouver Island; and creates cross-selling opportunities between Englobe's existing clients and Herold's relationships.

While financial terms weren't disclosed, this transaction appears to fit Colliers' broader strategy of making targeted acquisitions in fragmented professional services markets where they can apply their operational expertise and growth mindset to create value.

West-coast acquisition expands geographic footprint and scale

TORONTO and NANAIMO, British Columbia, May 15, 2025 (GLOBE NEWSWIRE) -- Colliers (NASDAQ, TSX: CIGI) announced today that its Canadian engineering platform Englobe Corporation (“Englobe”) has acquired Herold Engineering Limited (“Herold”), a leading engineering consulting firm in British Columbia. Herold’s leadership team will continue to lead these operations and become shareholders of Englobe under Colliers’ unique partnership model. Terms of the transaction were not disclosed.

Founded in 1994, Herold’s 75 professionals provide consulting services for diversified building, municipal, transportation and marine projects throughout British Columbia, predominantly on Vancouver Island.

“This investment builds on our recent acquisition of Higher Ground in Western Canada, marking an important step towards our goal of becoming one of the region’s leading players,” said Elias Mulamoottil, Co-Chief Investment Officer of Colliers. “Englobe is a differentiated business where we leverage our brand, culture, and growth mindset to solidify our position as a partner of choice in the Canadian engineering consulting market.”

“We are extremely excited to join forces with the well-respected professionals from Herold,” said Mike Cormier, President of Englobe. “This expansion provides us with enhanced design and consulting capabilities, qualifications and relationships in British Columbia, allowing us to better serve our clients across all major markets in Canada.”

“We strongly resonate with Englobe’s culture of unparalleled client experience, employee empowerment, and employee ownership, making this partnership the best next step for us,” said Lee Rowley, Managing Principal of Herold. “With Englobe and Colliers’ added capabilities, resources and relationships, we are even better positioned to service our clients, accelerate our growth and create attractive opportunities for our people.”

Colliers Contacts
Elias Mulamoottil
Co-Chief Investment Officer
(416) 960-9500

Mike Cormier
President | Englobe
(514) 281-5151

About Colliers
Colliers (NASDAQ, TSX: CIGI) is a global diversified professional services and investment management company. Operating through three industry-leading platforms – Real Estate Services, Engineering, and Investment Management – we have a proven business model, an enterprising culture, and a unique partnership philosophy that drives growth and value creation. For 30 years, Colliers has consistently delivered approximately 20% compound annual returns for shareholders, fuelled by visionary leadership, significant inside ownership and substantial recurring earnings. With nearly $5.0 billion in annual revenues, a team of 23,000 professionals, and more than $100 billion in assets under management, Colliers remains committed to accelerating the success of our clients, investors, and people worldwide. Learn more at corporate.colliers.com, X @Colliers or LinkedIn.

FAQ

What company did Colliers (CIGI) acquire in May 2025?

Colliers' subsidiary Englobe Corporation acquired Herold Engineering Limited, a British Columbia-based engineering consulting firm with 75 professionals.

How many employees does Herold Engineering bring to Colliers (CIGI)?

Herold Engineering brings 75 professionals who specialize in consulting services for building, municipal, transportation, and marine projects.

What is the strategic importance of Colliers' Herold Engineering acquisition?

The acquisition expands Colliers' geographic footprint in British Columbia and enhances Englobe's design and consulting capabilities across major Canadian markets.

Will Herold Engineering's management team stay after the Colliers acquisition?

Yes, Herold's leadership team will continue to lead operations and become shareholders of Englobe under Colliers' partnership model.

What services does Herold Engineering provide to Colliers (CIGI)?

Herold Engineering provides consulting services for diversified building, municipal, transportation and marine projects throughout British Columbia, predominantly on Vancouver Island.