Adds scale and strengthens capabilities in region
TORONTO and AUCKLAND, New Zealand, April 12, 2023 (GLOBE NEWSWIRE) -- Global diversified professional services and investment management company Colliers (NASDAQ, TSX: CIGI) announced today it has acquired a controlling interest in Greenstone Group Ltd. ("Greenstone"), a leading project management and property advisory firm in New Zealand. The Greenstone senior leadership team will remain significant shareholders of the business under Colliers' unique partnership model. The business will rebrand as "Colliers Project Leaders" and integrate into Colliers' market-leading New Zealand operations. Terms of the transaction were not disclosed.
Founded in 2000, Greenstone offers project management and property advisory services to a diverse range of end-markets including commercial and residential developers, as well as the government, education, and infrastructure sectors. Greenstone's professional services are delivered by more than 55 professionals across four offices in New Zealand.
"Our partnership with Greenstone builds on several successful investments that we have made in our Colliers Engineering & Design and Colliers Project Leaders businesses, highlighting our focus on building high-value, resilient and recurring professional services businesses that can leverage our global brand and footprint," said Elias Mulamoottil, Co-Chief Investment Officer of Colliers. "Our differentiated approach continues to attract leading firms that value our unique partnership model, long-term growth horizon, and decentralized and enterprising culture."
"The addition of Greenstone will strengthen our overall Colliers Project Leaders offering, allowing us to support our clients across the region with their more complex challenges," said John Kenny, CEO Colliers Asia Pacific. "From our first meeting, we knew that Greenstone shared our enterprising values and culture, and we are excited to welcome these trusted professionals into the Colliers organization."
"By joining with a partner that shares our passion, values and focus on service excellence, we can focus on the future of our business," said Shane Davis, Managing Director of Greenstone. "We look forward to leveraging the Colliers brand, global platform, and client relationships to help accelerate the success of our shared clients and professionals in the years to come."
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Contacts
John Kenny
Chief Executive Officer | Asia Pacific
+61 2 9257 0222
Elias Mulamoottil
Co-Chief Investment Officer | Global
(416) 960-9500
