TORONTO, Jan. 11, 2016 (GLOBE NEWSWIRE) — Leading commercial real estate services firm Colliers International Group Inc. (“Colliers”) (NASDAQ:CIGI) (TSX:CIG) today announced the acquisition of Groupe Immobilier (Montréal • Québec) (“GIMQ”), a commercial real estate services and landlord representation firm in Montreal, Québec. GIMQ has been servicing the Québec market for over 30 years. Terms of the transaction were not disclosed.
This acquisition expands Colliers office landlord representation capabilities across Québec, augmenting its already strong presence and team. GIMQ will immediately rebrand as Colliers International and their entire team of professionals will be fully integrated into Colliers business and will be based out of Colliers’ existing offices in Montréal and Québec City.
Andrew Maravita, Managing Director for Colliers International in Québec, commented: “Groupe Immobilier (Montréal • Québec) is a great cultural fit for Colliers. Andre and his team’s long-standing commitment to innovative solutions and dedication to enhancing landlord asset value combined with the Colliers International global platform is a winning combination for our people and our clients.”
“We are very excited to be part of Colliers International,” said Andre G. Plourde. “Our track record for enhancing investor asset values for more than 30 years, combined with Colliers’ leading global platform, will enable us to offer both existing and new clients expanded, world-class advisory services. We are already seeing the benefits of Colliers strong global platform and the resources we can now access, which has enhanced our ability to grow asset value for Québec real estate investors.”
About Colliers International Group Inc.
Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIG) is a global leader in commercial real estate services with more than 16,300 professionals operating from 502 offices in 67 countries. With an enterprising culture and significant insider ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include brokerage, global corporate solutions, investment sales and capital markets, project management and workplace solutions, property and asset management, consulting, valuation and appraisal services, and customized research and thought leadership. Colliers International has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 10 consecutive years, more than any other real estate services firm.
For the latest news from Colliers International, visit Colliers.com, or follow us on Twitter: @Colliers and LinkedIn. To see the latest news from Colliers International in Canada, follow @collierscanada on Twitter and Colliers International Canada on LinkedIn.
Advisory Regarding Forward-Looking Information
Information in this press release that is not a historical fact is “forward-looking information”. Words such as “plans”, “intends”, “outlook”, “expects”, “anticipates”, “estimates”, “believes”, “likely”, “should”, “could”, “will”, “may” and similar expressions are intended to identify statements containing forward-looking information. Forward-looking information in this press release is based on current objectives, strategies, expectations and assumptions which management considers appropriate and reasonable at the time. The forward-looking information in this press release includes, but is not limited to, statements with respect to the expected future attributes of Colliers.
By its nature, forward-looking information is subject to risks and uncertainties which may be beyond the ability of Colliers to control or predict. The actual results, performance or achievements of Colliers could differ materially from those expressed or implied by forward-looking information. Factors that could cause actual results, performance, achievements or events to differ from current expectations include, among others, risks and uncertainties related to: the operations and financial condition of Colliers as a separately traded public company; business cycles, including general economic conditions in the countries in which Colliers operates, which will, among other things, impact demand for services and the cost of providing services; the ability of Colliers to implement its business strategy, including its ability to acquire suitable acquisition candidates on acceptable terms and successfully integrate newly acquired businesses with its existing businesses; changes in or the failure to comply with government regulations; changes in foreign exchange rates; increased competition; credit of third parties; changes in interest rates; and the availability of financing. Additional information on certain of these factors and other risks and uncertainties that could cause actual results or events to differ from current expectations can be found in Old FirstService’s Annual Information Form for the year ended December 31, 2014 under the heading “Risk Factors” (which factors are adopted herein and a copy of which can be obtained at www.sedar.com). Certain risks and uncertainties specific to the arrangement transaction, Colliers and New FirstService are further described in the Management Information Circular of Old FirstService dated March 16, 2015. Other factors, risks and uncertainties not presently known to Colliers or that Colliers currently believes are not material could also cause actual results or events to differ materially from those expressed or implied by statements containing forward-looking information.
Readers are cautioned not to place undue reliance on statements containing forward-looking information that are included in this press release, which are made as of the date of this press release, and not to use such information for anything other than their intended purpose. Colliers disclaims any obligation or intention to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.
For further information, please contact:John B. Friedrichsen, Chief Financial OfficerColliers International416-960-9500john.friedrichsen@colliers.comMichelle Santos, Communications SpecialistColliers International604-692-1461michelle.santos@colliers.com