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Colliers International Group Inc. (CIGI) is a global diversified professional services and investment management company. It operates through industry-leading platforms, providing services in real estate, engineering, and investment management. The company sells professional services and manages assets across global markets, focusing on driving growth and value creation.
- Real Estate Services - Provides leasing, capital markets, property management, valuation, and advisory services.
- Engineering - Offers engineering, design, and project management activities with a focus on recurring revenues and robust contractual backlogs.
- Investment Management - Manages funds, partnerships, and accounts, focusing on mid-market alternative asset management.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Jay S. Hennick ExecutiveBoard | Chief Executive Officer | Founder & Chairman of FirstService Corporation ; Chairman of Hennick & Company | Jay S. Hennick has been the CEO of CIGI since May 30, 1988 and has served as the Chairman of the Board since June 1, 2015. | View Report → |
Christian Mayer Executive | Chief Financial Officer (CFO) | Christian Mayer is the CFO of CIGI since 2020, having previously served as Senior Vice President Finance & Treasurer from 2015 to January 2020 and Vice President, Finance for Old FSV since 1999. He is a Chartered Professional Accountant who began his career with Grant Thornton and PwC in Toronto. | ||
Christopher McLernon Executive | Chief Executive Officer, Real Estate Services | Christopher McLernon has served as the Chief Executive Officer, Real Estate Services at CIGI since July 2022, overseeing global Capital Markets, Leasing, and Outsourcing & Advisory businesses. Previously, he was the CEO for EMEA at CIGI where he drove significant revenue growth. | ||
Elias Mulamoottil Executive | Co-Chief Investment Officer | Elias Mulamoottil is the Co-Chief Investment Officer at CIGI since 2021. He previously served as Head of Strategic Investments at the company, contributing significantly to its investment strategy. | ||
Zachary Michaud Executive | Co-Chief Investment Officer | Zachary Michaud is the Co-Chief Investment Officer at CIGI since 2021. Previously, he served as Vice President, Strategic Investments at the company and joined Colliers in 2015. |
- In light of the recent tariff uncertainty and its indirect impact on construction costs, how does management plan to mitigate potential cost escalation in both the engineering and real estate segments, and what contingency measures are in place if these tariffs persist?
- Given that the engineering segment reported low teens revenue growth in Q1 but expects mid- to high single-digit organic growth for the full year, what key factors drove the Q1 acceleration and how sustainable is this level of growth moving forward?
- With the push towards centralized operations in country-specific engineering platforms, can you elaborate on how further integration might affect operational efficiency and whether it could impact your traditional decentralized model?
- Considering the headcount expansion in your real estate services practice, particularly in recruiting for capital markets and leasing, are these net hires aimed at supporting continued organic growth or merely backfilling past vacancies, and how do you plan to balance this with margin pressures?
- As you continue to deploy capital for both M&A and organic growth in fragmented market segments like engineering and real estate, what specific criteria and metrics are used to determine the optimal mix of acquisitions versus internal development, and how do you evaluate their long-term impact on EBITDA?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Terra Consulting | 2025 | Completed in May 2025, the Terra Consulting acquisition was aimed at bolstering Colliers’ engineering capabilities in the U.S. communications industry and expanding its infrastructure platform. |
Ethos Urban Pty Ltd. | 2025 | Completed in March 2025, the acquisition of Ethos Urban Pty Ltd. involved a cash consideration of approximately $9.485M (after cash adjustments) along with recognition of significant goodwill and intangible assets, adding best‐in‐class urban planning capabilities in Australia to Colliers’ portfolio. |
Pritchard Francis Consulting Pty Limited | 2024 | Completed in October 2024, this acquisition of an Australian multi‐discipline engineering services firm was funded through borrowings and cash, and was part of a three‐deal package with a combined purchase consideration of $31.249M. |
TTM Group Pty Limited | 2024 | Completed in October 2024, Colliers acquired a controlling interest in TTM Group Pty Limited, an Australian transportation engineering services firm, using funds from its Revolving Credit Facility and cash on hand to expand its engineering service offerings. |
Goodkey, Weedmark & Associates Limited (GWAL) | 2024 | Completed in October 2024, the acquisition of GWAL, a Canadian mechanical and electrical engineering services firm, was executed as part of a combined purchase with a total consideration of $31.249M, funded with borrowings and available cash. |
Englobe Corp. | 2024 | Completed on July 29, 2024, the acquisition of an 89.2% stake in Englobe Corp. for $474.7M provided Colliers with a strong entry into the Canadian multi‐discipline engineering and environmental services market, contributing to enhanced revenue growth and strategic rebranding in 2025. |
Phase Zero Design Corporation | 2024 | Completed in July 2024, the Phase Zero Design Corporation acquisition in the United States secured a controlling interest in an engineering and design firm, further diversifying Colliers’ engineering capabilities and service offerings. |
Lanard & Axilbund, LLC | 2024 | Completed in April 2024, the acquisition of Lanard & Axilbund, LLC—a U.S. commercial real estate services firm—was executed for a total purchase consideration of $22.525M, including allocations for current and non-current assets, goodwill, and intangible assets, which are expected to drive synergies and market expansion. |
Craig & Rhodes Pty Limited | 2023 | Completed on May 2, 2023, the acquisition of Craig & Rhodes Pty Limited (later rebranded as Colliers Engineering & Design) involved a total purchase consideration of $65.257M, including significant amounts allocated to goodwill and finite-lived intangible assets, thereby strengthening Colliers’ engineering design and survey capabilities in Australia. |
HILGARTWILSON, LLC | 2023 | Acquired in May 2023, HILGARTWILSON, LLC—an Arizona-based engineering, planning, and survey firm—was integrated into Colliers Engineering & Design with a total purchase consideration of $65.257M that included cash, contingent payment elements, and recognized goodwill. |
Greenstone Group Limited | 2023 | Completed on April 12, 2023, the acquisition of Greenstone Group Limited (subsequently rebranded as Colliers Project Leaders) enhanced Colliers’ project management and property advisory services in New Zealand, aligning with its strategic expansion in the Asia Pacific region using the acquisition method. |
Pangea Property Partners | 2022 | Announced in September and completed in December 2022, the acquisition of Pangea Property Partners for $67M secured a controlling interest in a leading Nordic capital markets advisor, positioning Colliers as a dominant player in Sweden and Norway. |
Arcadia Management Group, Inc. | 2022 | Completed on October 6, 2022, the acquisition of Arcadia Management Group, Inc.—a property management firm in the U.S. Southwest—for $13.1M expanded Colliers’ property management capabilities in that region. |
Versus Capital | 2022 | Completed on October 12, 2022, the acquisition of a 75% controlling interest in Versus Capital, a U.S.-based alternative real asset management firm with approximately $6B AUM, for $364M significantly accelerated Colliers’ global private wealth distribution and increased its management fee revenue base. |
PEAKURBAN Pty Limited | 2022 | Completed on August 2, 2022, the acquisition of PEAKURBAN Pty Limited—a civil engineering, infrastructure, water, and planning firm in Australia—for $26.648M will be rebranded as Colliers Engineering & Design, thereby strengthening the firm’s growth engine in the Asia Pacific region. |
Rockwood Capital, LLC | 2022 | Completed on July 6, 2022, the acquisition of a 65% stake in Rockwood Capital, LLC, a U.S.-based real estate investment management firm managing over $12B, for an aggregate initial purchase price of $195M, enhanced Colliers’ investment management platform and broadened its exposure to diverse asset classes. |
Basalt Infrastructure Partners LLP | 2022 | Completed in June 2022, Colliers acquired a 75% equity interest in Basalt Infrastructure Partners LLP—an infrastructure investment management firm with approximately $8.5B in AUM—for $300M, an acquisition expected to deliver annual management fee revenues of $65–75M and broaden its exposure in sectors such as utilities and renewables. |
Building Consultancy and Project Management Firm (UK) | 2022 | Completed in May 2022, the acquisition of a UK-based Building Consultancy and Project Management Firm enhanced Colliers’ Outsourcing & Advisory segment in Europe and supported its broader strategy to diversify and globalize its service offerings. |
Antirion SGR S.p.A. | 2022 | Completed in April 2022, the acquisition of Antirion SGR S.p.A.—an Italian real estate investment management firm with $4B AUM—for an initial cash consideration of $64.746M enabled integration with Colliers Global Investors and strengthened its European investment management presence. |
Civil Engineering, Design, and Survey Firm (San Antonio, TX) | 2022 | Completed in March 2022, the acquisition of the San Antonio-based civil engineering, design, and survey firm (via a mix of $52,478 in cash and $16,207 in equity) generated $26.651 in goodwill and further augmented Colliers’ growing platform in Texas. |
Colliers Affiliate for Cincinnati and Cleveland | 2022 | Completed in March 2022, the acquisition of the Colliers affiliate for Cincinnati and Cleveland involved a cash and equity consideration similar in structure to the San Antonio deal, resulting in recognized goodwill and intangible assets, and was a strategic move to expand operations in the Americas. |
Recent press releases and 8-K filings for CIGI.
- Revenue increased to $1,141,170K in Q1 2025 compared to $1,001,980K in Q1 2024.
- Operating earnings declined to $31,604K versus $43,327K in the prior period.
- The Company reported net earnings of $8,918K with a net loss attributable to the Company of $4,259K (Basic EPS loss of $(0.08)) compared to net earnings of $14,136K and Basic EPS of $0.26 in Q1 2024.
- The TSX accepted Colliers’ notice to initiate a Normal Course Issuer Bid to purchase up to 4,300,000 subordinate voting shares—approximately 10% of the public float—using TSX, alternative Canadian Trading Systems, or Nasdaq (doc ).
- The bid period is from May 9, 2025 to May 8, 2026 with daily purchase limits set at 13,777 shares, and all acquired shares will be cancelled (doc ).
- The new NCIB follows a previous bid that expired on July 19, 2024 without any share repurchases (doc ).
- Revenue reached approximately $1.1–$1.14 billion in Q1 2025, reflecting a 14–16% year-over-year increase with strong contributions from the Engineering segment .
- Adjusted EBITDA increased by 7% to $116.0 million .
- Adjusted EPS improved to $0.87, while GAAP operating earnings declined to $31.6 million, underscoring mixed performance metrics .
- The Engineering segment delivered 63% net revenue growth driven by both organic improvements and acquisitions .
- Strategic acquisitions including Ethos Urban, Terra Consulting, and a pending Triovest deal advanced the company’s growth strategy .
- The Investment Management segment recorded assets under management over $100 billion and raised $1.2 billion in new capital commitments, with guidance targeting a reduction in the leverage ratio from 2.2x to approximately 1.5x by year-end via enhanced cross-selling and integration efforts .