Real assets services and investment management company Colliers is buying a controlling interest in Pangea Property Partners, a capital markets adviser in Sweden and Norway established in 2009.
Colliers said it will merge Pangea with the existing Colliers operations in Sweden, to become the new company-owned operation in Norway, and re-brand as Colliers.
Pangea’s partners, together with the existing leadership team of Colliers Sweden, will retain a significant equity stake in the combined business.
Bård Bjølgerud, founding partner and CEO of Pangea, will assume the role of Colliers Nordics CEO.
The combined operations will have more than 80 professionals and offer a full suite of services for its clients including capital markets advisory, debt advisory, project finance, leasing and sales brokerage, valuations, and project management, said Colliers.
Davoud Amel-Azizpour, Colliers EMEA CEO, said: “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.
“We are excited about our new partnership and the opportunity to leverage our best-in-class platform in this important and rapidly growing region.”
Bjølgerud said: “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 adviser in the Nordics.
“It is important to us that we partner with an organisation that shares our business philosophy and culture.”
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