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LONDON and STOCKHOLM, Sweden and OSLO, Norway and HELSINKI, Finland and COPENHAGEN, Denmark, 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 purchase a controlling curiosity in Pangea Property Partners (“Pangea”), a number one capital markets advisor in Sweden and Norway. Pangea’s footprint enhances Colliers’ established and market-leading groups in Sweden, Demark, and Finland. Pangea will merge with Colliers’ present company-owned operations in Sweden and set up a brand new Colliers company-owned operation in Norway. At the shut of the deal, Colliers will set up a Nordic area with over 550 professionals in Denmark, Finland, Norway, and Sweden. The Nordic area may have greater than 80 capital markets consultants serving our shoppers throughout the area.
The Pangea companions, along with the present management staff of Colliers Sweden, will retain a big fairness stake in the mixed business underneath Colliers’ distinctive partnership mannequin. The phrases of the transaction weren’t disclosed.
Established in 2009, Pangea brings an distinctive management staff and world-class experience in capital markets, debt advisory and challenge finance operations from its workplaces in Oslo, Norway, and Stockholm in Sweden. With the formation of the Colliers Nordic area, the mixed capital markets exercise will make Colliers the market leader in the area, with over 27% of market exercise based mostly on full-year 2021 RCA information.
The mixed operations will supply a full suite of providers together with, capital markets advisory, debt advisory, challenge finance, leasing and gross sales brokerage, valuations, and challenge 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 was important to us that we partnered 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.
“The number one position in the Nordic region has been open for quite some time. Combining our businesses will make Colliers the clear market leader. Looking forward, we intend to accelerate our Nordic region by focusing on our clients’ needs.”
Contact particulars:
Davoud Amel-Azizpour
Chief Executive Officer | EMEA
+44 (0) 20 7487 7020
Anna Silkstone
Head of Content | EMEA
[email protected]
+44 (0) 7858 193057
A photograph accompanying this announcement is out there at https://www.globenewswire.com/NewsRoom/AttachmentNg/ca152461-a913-4ddd-b54d-17c15f7b0475
