Acquisition expands geographic presence, scale and service capabilities
TORONTO AND PERTH, Sept. 03, 2024 (GLOBE NEWSWIRE) - Global diversified professional services and investment management company, Colliers (NASDAQ, TSX: CIGI), announced today that Colliers Engineering & Design Australia (“Colliers Engineering”) has entered into a definitive agreement to acquire Pritchard Francis Consulting Pty Limited (“Pritchard Francis”), one of Western Australia's leading multi-discipline engineering consulting firms.
Pritchard Francis' senior leadership team will continue to lead the business in Western Australia and become significant shareholders in the Colliers Engineering platform under the unique Colliers partnership model. The business will rebrand as “Colliers Engineering & Design” and fully integrate into Colliers' rapidly growing engineering operations. The transaction is subject to customary closing conditions and is expected to close by the end of this year. Terms of the transaction were not disclosed.
Founded in 1977, Pritchard Francis' 125 professionals provide civil and structural engineering, design and related consulting services to diversified end markets including transportation, property, land development, industrial, mining & resources and public infrastructure.
“Following our successful expansion into New South Wales last year, this investment accomplishes another strategic objective in our goal to become one of Australia's premier engineering consulting firms,” said John Kenny, CEO Ӏ Colliers Asia Pacific. “We are proud of the differentiated business we have built by leveraging the Colliers brand, infrastructure and enterprising culture that allow us to attract the best talent to our organization.”
“We are excited to welcome the well-respected professionals of Pritchard Francis to Colliers,” said Brent Thomas, Managing Director of Colliers Engineering. “The addition of this seasoned group enhances our scale, strengthens our capabilities and expands our geographic reach, allowing us to better meet the requirements of our regional and national clients.”
“Joining Colliers Engineering was a logical next step in our evolution and we are pleased to join a leading global professional services firm that shares our focus on client service excellence, employee experience and equity ownership,” said Arthur Psaltis, CEO, Pritchard Francis. “By integrating our operations with Colliers, we look forward to accelerating the growth of our business and the success of our clients and employees in the years to come.”
Colliers Contacts
John Kenny
Chief Executive Officer | Asia Pacific
+61 2 9257 0222
Brent Thomas
Managing Director | Colliers Engineering & Design Australia
+61 3 9562 7424
Pritchard Francis Contact
Arthur Psaltis
Chief Executive Officer
+08 9382 5111
About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 68 countries, our 22,000 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 20% for shareholders. With annual revenues of more than $4.4 billion and $96 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, X @Colliers or LinkedIn.