Acquisition strengthens services to property owners and developers
NEW YORK, May 24, 2016 — Leading global commercial real estate services firm Colliers International Group Inc. (“Colliers”) (NASDAQ:CIGI, TSX:CIG) today announced the acquisition of Gorton & Partners (“Gorton”), one of the most respected project management firms in New York City. Since 1994, Gorton has provided world class service to owners and developers across some of New York’s most complex construction and development projects that are shaping the city’s iconic skyline. Gorton, which will rebrand to “Colliers International” immediately, expands Colliers’ existing project and development management capabilities in the Northeast US and adds significant best-in-class expertise for both highly complex out-of-the-ground buildings as well as interior renovation projects. The integration of Gorton will also build on the strength of Colliers’ global project and development management capabilities, adding depth across multiple industry sectors including financial services, institutional, healthcare, education, high-rise & luxury residential and hospitality. Terms of the transaction were not disclosed.
“We are very excited to add the Gorton team to our growing platform in the Northeast,” said Jon Winikur, Executive Managing Director, Colliers International | Project Management | Northeast. “The combination of our people, the team’s expertise and project experience will provide our clients with expanded capabilities across all project types, specialities and industries and access to Colliers International’s global project and development management services wherever they choose to do business.”
“We are very excited to be part of Colliers International at this important time in our firms’ history,” said Robert Gorton. “Our track record for managing complex projects in NYC for more than 20 years, combined with Colliers’ leading global platform, will enable us to offer existing and new clients expanded, world-class project and development management services. We are already seeing the benefits of Colliers strong global platform and the resources we can now access.”
“What attracted us to Gorton was not only their proven track record of providing excellent client service but equally their cultural fit as part of the Colliers team,” said Joseph Harbert, President of Eastern Region, USA. “Bringing together the experience and deep local market expertise of Bob and his multi-disciplinary in-house team with the global strength and depth of services that Colliers International offers both in the US and globally improves our ability to continue to provide industry leading capabilities to our clients,” he concluded.
-- End --
About Colliers International
Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIG) is an industry leading global real estate services company with more than 16,000 skilled professionals operating in 66 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 11 consecutive years, more than any other real estate services firm.
For the latest news from Colliers, visit Colliers.com or follow us on Twitter: @Colliers and LinkedIn.
Advisory Regarding Forward-Looking Information
Information in this press release that is not a historical fact is "forward-looking information". Words such as "plans", "intends", "outlook", "expects", "anticipates", "estimates", "believes", "likely", "should", "could", "will", "may" and similar expressions are intended to identify statements containing forward-looking information. Forward-looking information in this press release is based on current objectives, strategies, expectations and assumptions which management considers appropriate and reasonable at the time. The forward-looking information in this press release includes, but is not limited to, statements with respect to the expected future attributes of Colliers.
By its nature, forward-looking information is subject to risks and uncertainties which may be beyond the ability of Colliers to control or predict. The actual results, performance or achievements of Colliers could differ materially from those expressed or implied by forward-looking information. Factors that could cause actual results, performance, achievements or events to differ from current expectations include, among others, risks and uncertainties related to: the operations and financial condition of Colliers as a separately traded public company; business cycles, including general economic conditions in the countries in which Colliers operates, which will, among other things, impact demand for services and the cost of providing services; the ability of Colliers to implement its business strategy, including its ability to acquire suitable acquisition candidates on acceptable terms and successfully integrate newly acquired businesses with its existing businesses; changes in or the failure to comply with government regulations; changes in foreign exchange rates; increased competition; credit of third parties; changes in interest rates; and the availability of financing. Additional information on certain of these factors and other risks and uncertainties that could cause actual results or events to differ from current expectations can be found in Colliers' Annual Information Form for the year ended December 31, 2015 under the heading "Risk Factors" (which factors are adopted herein and a copy of which can be obtained at www.sedar.com). Other factors, risks and uncertainties not presently known to Colliers or that Colliers currently believes are not material could also cause actual results or events to differ materially from those expressed or implied by statements containing forward-looking information.
Readers are cautioned not to place undue reliance on statements containing forward-looking information that are included in this press release, which are made as of the date of this press release, and not to use such information for anything other than their intended purpose. Colliers disclaims any obligation or intention to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.
Colliers International Expands Project & Development Management Platform
Author: Elliot Golan
Date Published: 05/24/2016