Colliers Expands Portfolio with Pritchard Francis Acquisition
Colliers to Acquire Pritchard Francis Engineering Firm
Colliers (NASDAQ, TSX: CIGI), a global leader in professional services and investment management, has made a significant move by entering into a definitive agreement to acquire Pritchard Francis Consulting Pty Limited, a distinguished engineering consulting firm in Western Australia. This acquisition underscores Colliers' ongoing expansion strategy in the engineering sector.
Strengthening Engineering Operations
The acquisition will see Pritchard Francis rebranded as “Colliers Engineering & Design”, and its experienced leadership team will continue to manage operations, becoming key shareholders in the new venture. This unique collaboration aligns with Colliers' innovative partnership model, which promotes shared ownership among its professionals.
Integration into Colliers Engineering
This strategic acquisition aims to fully integrate Pritchard Francis into Colliers’ rapidly expanding engineering operations. With a workforce of 125 professionals, Pritchard Francis provides a diverse range of services, including civil and structural engineering and consulting in various sectors such as transportation, industrial, mining, and public infrastructure.
Leadership Insights on the Acquisition
John Kenny, CEO of Colliers Asia Pacific, expressed that this acquisition is a significant milestone in their ambition to become one of Australia’s premier engineering consulting firms. He emphasized the importance of leveraging the Colliers brand and culture, which attracts top talent and enhances the organization’s capabilities.
A Vision for Growth
Brent Thomas, Managing Director of Colliers Engineering, shared his enthusiasm about welcoming Pritchard Francis into the Colliers family. He noted that the integration of this established group of professionals will not only enhance their operational scale but also broaden their service reach nationally, allowing them to better serve their clients.
Shared Goals and Enhanced Services
Arthur Psaltis, CEO of Pritchard Francis, highlighted that joining Colliers Engineering represents a logical progression in their growth journey. He appears optimistic about the collaboration, detailing that both parties share a commitment to client service and employee satisfaction. The merger is expected to accelerate their joint success moving forward.
Colliers' Commitment to Excellence
With this acquisition, Colliers strengthens its position in the engineering market while also broadening its asset management footprint. The company has over $96 billion in assets under management and annual revenues exceeding $4.4 billion. This move is poised to maximize their operational potential, ensuring sustained growth and success for all stakeholders involved.
Colliers Contacts
John Kenny
CEO | Asia Pacific
+61 2 9257 0222
Brent Thomas
Managing Director | Colliers Engineering & Design Australia
+61 3 9562 7424
Pritchard Francis Contact
Arthur Psaltis
CEO
+08 9382 5111
Frequently Asked Questions
What is the significance of Colliers acquiring Pritchard Francis?
This acquisition enhances Colliers' engineering capabilities and extends its service offerings across a wider geographical area in Australia.
Will Pritchard Francis retain its leadership team?
Yes, the current leadership team at Pritchard Francis will continue to manage the business and will become significant shareholders in Colliers Engineering.
What services does Pritchard Francis provide?
Pritchard Francis specializes in civil and structural engineering and consulting services across various sectors, including transportation, mining, and public infrastructure.
How does this acquisition align with Colliers' business strategy?
The acquisition is part of Colliers' strategic plan to strengthen its market presence and establish itself as a leading engineering consulting firm in Australia.
How can I contact Colliers for more information?
You can reach out to John Kenny or Brent Thomas using the contact information provided in the article for any inquiries related to this acquisition.
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