Colliers International and FirstService Real Estate Advisors have announced that they will combine their operations and global real estate services platforms. The combined organisation, which will trade as Colliers International, has formed following a transition from a network of affiliate organisations to a centrally owned and operated firm.
Over the past two years, FirstService embarked on an aggressive global expansion, acquiring significant equity interests in Colliers International operations in the United Kingdom, Ireland, Spain, Russia and several other countries in Western and Eastern Europe and Asia Pacific. Other brands in the portfolio included FirstService Williams, FirstService PGP Property Valuation, PKF Hotel and Hospitality Consulting and MHPM Project Leaders.
The firm hopes that the merger will enable Colliers to affect change in the types of services it operates in different markets, something that will help the firm to achieve consistency from a client’s perspective. Douglas P. Frye, Chairman and CEO of Colliers International said: “Our successful partnership model enables key executives to retain significant equity in the businesses they operate day-to-day creating more alignment and accountability; ensuring clients receive the highest level of service and consistent delivery over the long-term.”
While the Asia arm operated as a single entity prior to the move, Piers Brunner, Chief Operating Officer - Asia for Colliers, believes that the merger will enable the firm to be more competitive when bidding for global contracts. “It leapfrogs Colliers International into a global platform and a top three player, it enables us to move onto another level when delivering services,” he said.
