TORONTO, April 15, 2025 (GLOBE NEWSWIRE) -- Colliers ((NASDAQ, TSX:CIGI) announced today that it has entered into a definitive agreement to acquire Triovest Inc. ("Triovest"), a leading Canadian commercial real estate services platform, from its owner, Coril Holdings. After closing, Triovest will rebrand as Colliers, merging its operations and capabilities to solidify Colliers' position as Canada's largest commercial real estate services firm. The combined Canadian operations will employ more than 3,000 professionals, manage more than 95 million square feet of commercial real estate, and oversee more than $15 billion in projects under development. The transaction is subject to customary closing conditions and is expected to close during the second quarter of this year. Terms of the transaction were not disclosed.
Founded in 1995, Triovest grew to become a national platform and one of Canada's largest private commercial real estate services firms under Coril Holding's ownership, managing 36 million square feet and overseeing $2.5 billion in projects under development for some of Canada's most prominent institutional and private clients. The company provides asset management, property management, development management, and advisory services for all major commercial real estate asset classes. For the year ended December 31, 2024, Triovest generated approximately C$70 million in revenues.
"The addition of Triovest cements our position as the largest real estate services firm in Canada, while strengthening our capabilities in asset and development management," said Brian Rosen, President & CEO Ӏ Colliers Canada. "Over the years, we have built a highly differentiated business model by integrating our full suite of services to better meet the requirements of our clients. Our customer-centric culture attracts and retains the top talent in our industry. We are excited to welcome the highly respected and experienced team from Triovest and look forward to their contributions in the years ahead."
"After many years as a privately held company, we believe now is the time to accelerate Triovest's growth by merging its operations with Canadian-based Colliers, one of the top global players in commercial real estate," said Deanna Zumwalt, President and Chief Executive Officer of Coril Holdings. "Our firm has worked with Colliers for many years as a client and we are confident that Triovest will now have access to greater resources and global client relationships that will benefit our clients and our people. Moreover, as a significant owner of commercial real estate, Coril will continue to work closely with Colliers, its professionals, and our former team members for our real estate needs."
Colliers Contacts
Brian Rosen
President & Chief Executive Officer | Canada
+1 416 643 3787
Christian Mayer
Chief Financial Officer | Global
+1 416 960 9176
About Colliers
Colliers ((NASDAQ, TSX:CIGI) is a global diversified professional services and investment management company. Operating through three industry-leading platforms – Real Estate Service, Engineering and Investment Management – we have a proven business model, an enterprising culture and a unique partnership philosophy that drives growth and value creation. For 30 years, Colliers has consistently delivered approximately 20% compound annual returns for shareholders, fueled by visionary leadership, significant inside ownership and substantial recurring earnings. With annual revenues exceeding $4.8 billion, and a team of 23,000 professionals, and $99 billion in assets under management, Colliers remains committed to accelerating the success of our clients, investors, and people worldwide. Learn more at corporate.colliers.com, X @Colliers or LinkedIn.
