Colliers International Strengthens Project Management Business in Australia
Acquisition enhances project delivery services to property owners and developers
TORONTO and SYDNEY, Oct. 02, 2018 (GLOBE NEWSWIRE) -- Leading global commercial real estate services firm Colliers International Group Inc. (NASDAQ and TSX: CIGI) today announced the acquisition of GMP Management Pty Ltd. (“GMP Management”), an Australian project management firm with extensive experience in corporate property and infrastructure delivery services.
Since 1989, GMP Management has been providing market-leading project management and planning services for complex projects across Eastern Australia. These services include development consulting, design management, financier and bank reporting, cost and risk management, and project management to a broad range of industry verticals including hotel and hospitality, residential, commercial and mixed-use, and social infrastructure. The acquisition, which will rebrand to “Colliers International” immediately, significantly expands Colliers’ project management business in Brisbane and Gold Coast, and will be integrated into Colliers Australia’s national project management platform. The terms of the transaction were not disclosed.
“We are very excited to become part of Colliers International at this important time in our firms’ history,” said Ian Pert and Andrew Bentley, GMP Management’s Directors. “Combining our stellar 29-year track record of managing large and complex projects, with the Colliers International platform, both in Australia and globally, enhances our ability to provide industry leading service to existing and new clients. Further, we are looking forward to joining a world class, growing organization, and we feel a very strong alignment with the entrepreneurial spirit that exists throughout Colliers.”
“We are very excited to have the experienced professionals from GMP Management join our strong and growing project management platform in Australia,” said John Kenny, Chief Executive Officer, Australia and New Zealand. “This acquisition builds upon our recent acquisition of NixAnderson and highlights our continued focus on building a world-class project management business across Australia. In a time when capital investment continues to increase into Australian commercial, residential, and social infrastructure market segments, we are in a better position than ever to capitalize on this trend by serving our property owner and developer clients.”
“What attracted us to GMP Management was the combination of their strong cultural fit with Colliers International and their proven track of providing industry-leading project management services, especially in the hotel and hospitality segment,” said Dylan Taylor, President and Chief Operating Officer. “By bringing in an enterprising group of professionals like GMP Management, and continuing to build our project management expertise worldwide, Colliers is continuing to deliver on our promise of accelerating the success of our clients wherever they choose to do business.”
About Colliers International Group Inc.
Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is a top tier global real estate services and investment management company operating in 69 countries with a workforce of more than 13,000 professionals. Colliers is the fastest-growing publicly listed global real estate services and investment management company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide, and through its investment management services platform, has more than $20 billion of assets under management from the world’s most respected institutional real estate investors.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice to accelerate the success of its clients. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 13 consecutive years, more than any other real estate services firm. Colliers has been ranked the number one property manager in the world by Commercial Property Executive for two years in a row.
Colliers is led by an experienced leadership team with a proven record of delivering more than 20% annualized returns for shareholders, over more than 20 years. For the latest news from Colliers, visit Colliers.com or follow us on Twitter: @Colliers and LinkedIn.
John B. Friedrichsen
Chief Financial Officer
Chief Executive Officer | Australia & New Zealand
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