Expanding into new areas and diversifying revenue streams is the rationale behind Colliers International’s latest acquisition.
The Toronto-based real estate firm will take a controlling stake in engineering and consulting firm Maser, a US firm which provides planning, consulting and design engineering services to infrastructure-related industries.
“Our investment in Maser is another step forward in our strategy of adding more highly valued, essential services to our private and public real estate and infrastructure clients,” said Jay Hennick, Global Chairman and Chief Executive Officer of Colliers International. “The transaction establishes us as a major player in the engineering design and consulting sector in the US, providing us with another important engine for growth.”
Hennick added that the firm sees tremendous potential in the market with the additional ability to cross-sell Colliers’ existing offers to the combined client base.
Last year, Colliers with the acquisition of four mortgage and real estate companies operated by Dougherty Finacial.
Stronger capabilities
Maser has around 1,000 employees based in New Jersey. The firm will be rebranded as Colliers Engineering Services during 2021.
“Without question, our new partnership strengthens our capabilities and provides us with specialized market knowledge and deep client relationships that will accelerate our growth in the future,” said Kevin Haney, Maser CEO and President. “Our entire team could not be more pleased by this move.”
Steve Randall has more than three decades of media experience encompassing online, newspapers, magazines, radio, and podcasts. He focuses on insights and news for professionals in finance, real estate, and legal services. Steve writes for multiple Key Media titles in Canada, United States, Australia, and New Zealand.
