Real assets services and investment management company Colliers has acquired a controlling stake in Australian engineering services firm Peakurban for an undisclosed sum.
Colliers said Peakurban’s senior leadership team will remain significant shareholders of the business which will be integrated into Colliers’ existing Australian operations under the Colliers Engineering & Design arm.
Founded in 2016, Peakurban specialises in planning, due diligence, engineering and design services for residential and mixed-use developments, civil infrastructure, water and wastewater, and industrial sectors.
The acquisition of Peakurban comes just over two years after Colliers announced it had agreed to acquire a controlling interest in Maser Consulting, a multi-discipline engineering design and consulting firm in the US. Maser Consulting was rebranded as Colliers Engineering & Design last year.
Earlier this year, Colliers gained a foothold in infrastructure fund management with the acquisition of a 75% stake in Basalt Infrastructure Partners, a company which manages more than $8.5bn (€8.3bn) of infrastructure assets in North America and Europe.
Elias Mulamoottil, co-CIO of Colliers, said: “Building on our continued success in the US, Peakurban represents the first international acquisition for our Colliers Engineering & Design business.
“Our differentiated approach continues to attract best-in-class firms who value our unique partnership model and long-term growth horizon, and who wish to thrive within our decentralised model and enterprising culture.”
John Kenny, the CEO of Colliers in the Asia Pacific, said: “The expansion of Colliers Engineering & Design into Australia will complement our existing project management and strategic advisory capability and enhance our service offerings to unlock opportunities and accelerate growth for our clients and people.
“Peakurban’s values and culture align strongly with ours and we are delighted to welcome these talented professionals to our organisation.”
Brent Thomas, co-founder and managing director of Peakurban, said: “Our reputation for developing commercially smart and practical engineering and planning solutions, combined with Colliers’ deep infrastructure, enterprising culture and impressive performance over many years, will help create the best outcomes for our clients and people.”
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