Brings scale and additional capabilities to accelerate growth
TORONTO and LONDON, May 09, 2022 (GLOBE NEWSWIRE) -- Leading diversified professional services and investment management company, Colliers (NASDAQ and TSX: CIGI), announced today it has acquired a majority interest in Paragon Building Consultancy Holdings Limited ("Paragon"), one of the UK's top independent building consultancy and project management firms. Paragon will be combined with Colliers' existing project management business bringing scale and additional capabilities in the UK and Europe. Paragon's senior management team will lead the combined operations and retain significant equity going forward under Colliers' unique partnership model. Financial terms were not disclosed.
Founded in London in 2009, Paragon's 150 professionals from the firm's six UK offices provide building surveying, project management, environmental assessments, and energy & sustainability consulting to owners, investors, and users of real estate.
"Our new partnership with Paragon strengthens our capabilities within the UK and extends our reach into Europe allowing us to better serve our clients' needs," said Tony Horrell, Chief Executive Officer of Colliers | UK and Ireland. "Paragon's reputation in the industry is second to none, and this acquisition represents Colliers' continued commitment to providing best-in-class services to maximize the potential of our clients' assets and properties."
"Our partnership with Colliers is the next step in our firm's evolution especially given our shared culture and commitment to service excellence," said Paragon co-founding partner John Munday, who will take on the role of Co-Head of the combined business. "This transaction marks a significant milestone for Paragon and will help propel our growth in the coming years."
"Colliers' well-known global brand and platform, and strong client relationships both locally and internationally, unlock many new opportunities for us," said Paragon co-founding partner Robert Perry, who will join John Munday as Co-Head of the combined business. "Colliers has a strong entrepreneurial culture, together with the scale, financial resources, and industry leadership we were looking for in a partner. Leveraging all that Colliers has to offer will be of great advantage to our company, its professionals, and partners in the years to come. We could not be more excited about our prospects for the future."
About Colliers
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Company Contacts:
Christian Mayer
Chief Financial Officer
(416) 960-9500
Tony Horrell
CEO | UK and Ireland
+44 20 7935 4499
