TORONTO and SEATTLE, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Leading global diversified professional services company Colliers (NASDAQ and TSX:CIGI) today announced that Colliers Engineering & Design has finalized an agreement to partner with MG2 Corporation ("MG2"), a premier architecture, strategic planning, design, and program management firm based in Seattle, Washington. This strategic partnership significantly expands Colliers Engineering & Design's footprint in the U.S. Northwest, strengthening existing services and positioning the company for future growth. Under Colliers' unique partnership model, MG2's senior leadership team will become significant shareholders in the combined business and play a key role in its leadership going forward. Transaction terms were not disclosed.
Founded in 1971, MG2 employs over 400 professionals across seven offices, specializing in innovative solutions across the retail, industrial, mixed-use, residential, food and beverage, and hospitality sectors.
"MG2's skilled professionals bring an impressive history of designing and delivering complex programs for diverse clients in the U.S.," said Elias Mulamoottil, Co-Chief Investment Officer of Colliers. "The MG2 leadership team was drawn to our unique partnership model, entrepreneurial culture, and ambitious growth strategy - factors that continue to set us apart and attract best-in-class firms to our global platform."
"MG2 will elevate Colliers Engineering & Design's architectural, design and program management capabilities, creating a national platform that enhances our current services and accelerates our growth trajectory," said Kevin L. Haney, PE, President and CEO of Colliers Engineering & Design. "With over 3,000 employees across the U.S., we now have enhanced consulting and design capabilities in every major region, allowing us to serve clients more effectively and create additional opportunities for our people."
"Joining forces with Colliers strengthens our greatest asset - our people - empowering them to bring their boldest ideas to life while providing substantial equity opportunities for the long term," said Mitch Smith, AIA, LEED AP, CEO and Chairman of MG2. "With the added resources of Colliers Engineering & Design, we'll be better positioned to deliver creative, insightful solutions that will help our clients transform their businesses for the future. Colliers' values, entrepreneurial culture, employee ownership, and proven track record made this the natural next step for MG2."
In connection with this transaction, Matheson Financial Advisors acted as financial advisor to MG2.
About Colliers
Colliers ((NASDAQ, TSX:CIGI) is a leading global diversified professional services company, specializing in commercial real estate services, engineering consultancy and investment management. With operations in 70 countries, our 22,000 enterprising professionals provide exceptional service and expert advice to clients. For nearly 30 years, our experienced leadership – with substantial inside ownership – has consistently delivered approximately 20% compound annual investment returns for shareholders. With annual revenues exceeding $4.5 billion and $99 billion of assets under management, Colliers maximizes the potential of property, infrastructure and real assets to accelerate the success of our clients, investors and people. Learn more at corporate.colliers.com, X @Colliers or LinkedIn.
Company Contacts:
Elias Mulamoottil
Co-Chief Investment Officer
(416) 960-9500
Kevin L. Haney, PE
President and CEO | Colliers Engineering & Design
(732) 383-1950
