Colliers to acquire Ayesa Engineering
Rhea-AI Summary
Colliers (NASDAQ, TSX: CIGI) has entered a definitive agreement to acquire Ayesa Engineering for approximately US$700 million in cash, with closing expected in Q2 2026. The deal adds ~3,200 professionals and ~US$370 million in 2025 gross revenues, expanding Colliers Engineering to nearly 14,000 professionals across 23 countries.
Under Colliers' partnership model, Ayesa leadership retains significant equity and Ayesa Engineering will keep its brand and local presence.
Positive
- Acquisition price of US$700 million signals significant strategic investment
- Adds approximately US$370 million in 2025 gross revenues
- Expands Engineering segment to nearly 14,000 professionals across 23 countries
- Strengthens presence in Europe, Latin America, Middle East, South Asia and Australia
Negative
- Cash purchase of US$700 million may affect near-term liquidity or leverage
- Integration across 21 existing Ayesa countries could present operational complexity
Key Figures
Market Reality Check
Peers on Argus
CIGI was down 0.23% pre-news, while key peers like FSV (-1.04%), OPEN (-5.68%), COMP (-1.76%), NMRK (-0.8%) and CWK (-1.46%) also traded lower. However, no peers appeared in the momentum scanner, pointing to weakness but not a clearly defined sector rotation.
Previous Acquisition Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jul 30 | Acquisition – credit platform | Positive | -0.6% | Harrison Street acquired 60% stake in RoundShield to expand European credit. |
| Jul 25 | Acquisition – infra banking | Positive | +0.5% | Completed Astris Finance acquisition to grow infrastructure and energy transition banking. |
| Jun 05 | Acquisition – Triovest close | Positive | +0.7% | Closed Triovest deal, making Colliers Canada’s largest CRE services platform. |
| Apr 15 | Acquisition – Triovest deal | Positive | -0.2% | Announced definitive agreement to acquire Triovest and expand Canadian scale. |
| Sep 03 | Acquisition – Australia engineering | Positive | -2.4% | Announced acquisition of Pritchard Francis to expand Australian engineering presence. |
Recent acquisition-related headlines have produced generally modest and often mixed share reactions, with more divergence (downward moves on positive news) than clear positive alignment.
Over the past year, Colliers has used acquisitions to build scale across investment management and real estate services. Deals included a 60% stake in RoundShield Partners with $5.4 billion in assets under management, the Astris Finance acquisition to deepen infrastructure-focused banking, and the Triovest transactions that created Canada’s largest commercial real estate services platform with 95+ million sq. ft. under management and $15+ billion in projects. Today’s Ayesa Engineering deal fits this pattern of expanding engineering and infrastructure capabilities globally.
Historical Comparison
In the past year, Colliers has issued 5 acquisition headlines, with an average 1-day move of about 0.88%. Market reactions to these strategic deals have tended to be modest and mixed.
Acquisition activity shows Colliers broadening capabilities across credit, infrastructure banking, Canadian real estate services, and Australian engineering, with the Ayesa deal extending this build-out into global engineering and project management.
Market Pulse Summary
This announcement adds meaningful scale to Colliers’ engineering platform, bringing Ayesa Engineering’s roughly US$370 million in 2025 revenues and more than 3,200 professionals across 21 countries. Post-closing, Colliers Engineering is expected to operate in 23 countries with nearly 14,000 professionals. In context of prior acquisitions in credit, infrastructure banking, and Canadian real estate services, investors may track integration progress, margin trends, and how the US$700 million cash purchase influences balance sheet flexibility.
Key Terms
assets under management financial
AI-generated analysis. Not financial advice.
Expands Colliers’ global engineering reach, expertise, and growth opportunities
TORONTO, Feb. 03, 2026 (GLOBE NEWSWIRE) -- Colliers (NASDAQ, TSX: CIGI), a global leader in professional services and investment management, announced today it has entered into a definitive agreement to acquire Ayesa Engineering S.A.U. (“Ayesa Engineering” or “Ayesa”), the engineering division of Ayesa Inversiones S.L.U. (“Ayesa Group”). Ayesa Engineering is a leading multidiscipline engineering and project management firm headquartered in Seville, Spain, that provides technical consulting services across four continents.
The addition solidifies Colliers’ Engineering segment as a formidable global player, now with operations in Europe, Latin America, the Middle East, and South Asia, and enhanced capabilities in Australia. On closing, Colliers Engineering will operate in 23 countries with nearly 14,000 professionals, delivering services across Property & Buildings, Infrastructure & Transportation, Water, and Environmental end markets. Under Colliers’ unique partnership model, Ayesa’s existing leadership team will retain significant equity and continue operating the business going forward.
Founded in 1966, Ayesa Engineering’s more than 3,200 professionals across 21 countries provide multidiscipline engineering design, site supervision, and project management consultancy services to major public and private sector clients in the transportation, water, buildings and cities, and energy end markets. The company generated approximately US
Colliers will acquire Ayesa Engineering for approximately US
“Our acquisition of Ayesa marks the latest pivotal step in our 30-year track record of creating shareholder value,” said Jay Hennick, Global Chairman and Chief Executive Officer of Colliers. “This strategic move expands our global presence in the high-growth engineering and project management sector, strengthens our position among the world’s top 30 engineering firms, and brings more scale and opportunities to our clients and professionals worldwide. Ayesa’s culture of service excellence and innovation aligns perfectly with Colliers, setting the stage for continued growth and value creation for our shareholders.”
“Ayesa Engineering presents a rare opportunity to partner with a scalable international platform, offering top-tier capabilities across critical infrastructure sectors with minimal overlap to our existing operations,” said Elias Mulamoottil, Chief Investment Officer of Colliers. “Expertise in large-scale, complex projects and the ability to provide end-to-end technical consulting not only makes Ayesa a trusted global advisor, but a company that’s primed for growth. We see strong growth potential in existing and new markets, with opportunities to leverage their expertise in the U.S., Canada, and Australia as industry tailwinds drive robust demand for our services.”
“As Ayesa Group’s founding family, we are very proud of the company’s nearly 60-year history of delivering world-class engineering and project management for major infrastructure projects,” said José Luis Manzanares Abásolo, Chief Executive Officer of Ayesa Group. “Colliers is the natural partner for Ayesa Engineering given their belief in our strategy and people, and the respect they have shown for our history in Spain and Seville – reflected in their commitment to preserving Ayesa’s presence in the region.”
“Joining Colliers enables us to build on our legacy of innovation and service excellence, expand our offerings to clients, and create new opportunities for our professionals,” said Rosalío Alonso, Chief Operating Officer of Ayesa Group, who will assume the role of Chief Executive Officer of Ayesa Engineering at closing. “Our team is excited to continue to grow our business as long-term partners for many years to come.”
In connection with the transaction, Alantra acted as financial advisor and Uría Menéndez acted as legal advisor to Colliers. Baird and Arcano Partners acted as financial advisors and Pérez-Llorca and Weil, Gotshal & Manges acted as legal advisors to Ayesa Group and its owners, A&M Capital Europe and the Manzanares family.
Colliers Contact
Christian Mayer
Chief Financial Officer
(416) 960-9500
Media Contact
Andrea Cheung
Senior Communications Manager
andrea.cheung@colliers.com
(416) 324-6402
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
About Ayesa Engineering
Ayesa Engineering is a leading multidisciplinary engineering and project management firm headquartered in Spain. With more than 3,200 professionals operating in 21 countries, the company delivers innovative design, site supervision, and consultancy services across transportation, water, buildings & cities, and energy sectors. Ayesa Engineering is recognized for its technical excellence and ability to manage complex infrastructure projects for both public and private clients. Its approach combines deep sector expertise with a commitment to sustainability and cutting-edge solutions, making it a trusted partner in shaping the future of global infrastructure. For more information, visit http://www.ayesa.com.
FAQ
What is Colliers (CIGI) acquiring from Ayesa on February 3, 2026?
How large is Ayesa Engineering and what revenue did it generate in 2025?
How will the acquisition change Colliers Engineering's global footprint and scale?
Will Ayesa leadership remain after the Colliers acquisition (CIGI)?
What are the near-term financial and operational implications for Colliers from the Ayesa deal?
