Acquisition strengthens Colliers Engineering & Design in Australia
TORONTO and SYDNEY, Australia, May 02, 2023 (GLOBE NEWSWIRE) -- Global diversified professional services and investment management company, Colliers (NASDAQ, TSX: CIGI), announced today that Colliers Engineering & Design Australia ("CED") has acquired Craig & Rhodes Pty Limited ("Craig & Rhodes"), a leading multi-discipline engineering, design and survey firm in New South Wales. The addition will strengthen CED's overall scale and capabilities in fast growing Sydney, Australia's largest market. Craig & Rhodes' senior leadership team will become significant shareholders in the CED platform under Colliers' unique partnership model. The business will rebrand as "Colliers Engineering & Design" and fully integrate into the rapidly expanding CED operations. Terms of the transaction were not disclosed.
Founded in 1923, Craig & Rhodes' 120 professionals operate from four offices across New South Wales. They provide civil and structural engineering design, surveying, planning, project management, water and wastewater design, and land development advisory predominantly to residential projects and mixed commercial developments.
"This acquisition is our first follow-on investment in CED since entering the engineering services market in Australia last year," said John Kenny, CEO Colliers Asia Pacific. "The senior leadership of Craig & Rhodes were attracted to our unique partnership model, enterprising culture and long-term growth aspirations. Our approach continues to differentiate Colliers and attract best-in-class firms to our platform."
"The expansion of CED deepens our capabilities, qualifications and relationships in the greater Sydney market, allowing us to better serve our clients in New South Wales and across the country," said Brent Thomas, Managing Director of Colliers Engineering & Design Australia. "With an impressive history and track record, we are delighted to have such a talented group of professionals join the Colliers family."
"By joining Colliers, we can better serve our clients with additional resources and capabilities while providing greater career opportunities for our people," said Andrew Halmarick, CEO, Craig & Rhodes, who will lead CED's New South Wales operations. "We are extremely excited to be partnering with a globally respected firm and international platform that will accelerate our growth and allow us to successfully deliver some of the largest and most complex projects."
About Colliers
Colliers is a leading diversified professional services and investment management company. With operations in 65 countries, our 18,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 28 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately 20% for shareholders. With annual revenues of $4.5 billion and $98 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, Twitter @Colliersor LinkedIn.
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
Craig & Rhodes Contact
Andrew Halmarick
Chief Executive Officer
+02 8752 9204
