Colliers International, part of FirstService Corporation, has acquired controlling interests in two German joint venture partners.
Colliers International, part of FirstService Corporation, has acquired controlling interests in two German joint venture partners.
The two partners are Colliers Schauer & Scholl and Colliers Brautigam & Kramer, which are active in Munich, Stuttgart and Berlin.
The remaining equity will be held by the senior management of both operations under Colliers' enterprise partnership model.
The terms of the transactions were not disclosed.
Colliers provides a full range of brokerage services in Germany to local and international clients. Last year, the German operations generated around $60 mln in revenue.
'Germany is one of the strongest and most established markets in Europe representing an enormous opportunity,' said Chris McLernon, CEO of the EMEA for Colliers International. 'Having a market-leading position in Germany will allow us to accelerate our growth throughout the region and reinforce our capacity to serve clients locally and on a global basis.'
Achim Degen, who will continue as managing partner of Colliers Germany, said the integration of the business within Colliers International was 'a natural step'. 'It enables is to broaden our service offerings and further accelerate our growth in Europe and internationally,' he added.
