Colliers becomes market leader in Nordics

TORONTO, Sept. 06, 2022 (GLOBE NEWSWIRE) — Leading diversified skilled providers and funding administration firm, Colliers (NASDAQ and TSX: CIGI), introduced at this time that it has agreed to amass a controlling curiosity in Pangea Property Partners (“Pangea”), a number one capital markets advisor in Sweden and Norway. Pangea will merge with Colliers’ current company-owned operations in Sweden, turn into the brand new company-owned operation in Norway, and re-brand as Colliers. Pangea’s companions, along with the present management group of Colliers Sweden, will retain a major fairness stake in the mixed business below Colliers’ distinctive partnership mannequin. The phrases of the transaction weren’t disclosed.

Established in 2009, Pangea brings an distinctive management group and world-class experience from their workplaces in Oslo in Norway and Stockholm in Sweden. The mixed Colliers Sweden and Norway operations can have greater than 80 professionals and provide a full suite of providers for our purchasers together with capital markets advisory, debt advisory, undertaking finance, leasing and gross sales brokerage, valuations, and undertaking administration.

“Building on our top tier operations in Denmark and Finland, this merger adds market leadership in Norway and Sweden and together establishes Colliers as the dominant player in the entire Nordic region,” stated Davoud Amel-Azizpour, CEO of Colliers | EMEA. “We are excited about our new partnership and the opportunity to leverage our best in class platform in this important and rapidly growing region.”

“Pangea has grown significantly over many years in the Nordics as well as internationally. The combination of Pangea and Colliers is a perfect match with our strategy and ambition to become the leading property advisor in the Nordics. It is important to us that we partner with an organization that shares our business philosophy and culture,” stated Bård Bjølgerud, Founding Partner and CEO of Pangea, who will assume the position of CEO, Nordics, Colliers.

About Colliers

Colliers (NASDAQ, TSX: CIGI) is a number one diversified skilled providers and funding administration firm. With operations in 63 nations, our 17,000 enterprising professionals work collaboratively to supply skilled actual property and funding recommendation to purchasers. For greater than 27 years, our skilled management with vital inside possession has delivered compound annual funding returns of 20% for shareholders. With annual revenues of $4.5 billion and $81 billion of belongings below administration, Colliers maximizes the potential of property and actual belongings to speed up the success of our purchasers, our traders and our folks. Learn extra at company.colliers.com, Twitter @Colliers or LinkedIn.

Colliers Contacts:

Christian Mayer
Chief Financial Officer | Global
(416) 960-9500 

Davoud Amel-Azizpour
Chief Executive Officer | EMEA
(44) 20 7487 7020