- What Colliers will acquire Englobe for US$475m
- Why Deal marks the firm’s entry into the Canadian engineering services sector
- What’s next Englobe will rebrand under the Colliers name
Colliers has agreed to acquire Englobe Corp., marking its entry into the Canadian engineering servics market.
Under the deal, Colliers will acquire a significant controlling interest in the Laval, Quebec-based company for US$475m (C$647.5 million) in cash. Englobe provides civil, buildings, geotechnical, and environmental engineering services, material testing and consulting. In 2023, the firm generated US$340 of revenue.
The firm will be rebranded as Colliers next year. Englobe’s senior team and employee shareholders will remain shareholders in the company. The deal excludes Englobe’s material management and beneficial reuse operations in the UK, France and Canada.
Subject to closing conditions, the transaction is expected to be completed in the third quarter.
“Once the transaction is completed, recurring earnings from Engineering, Investment Management and Outsourcing will collectively represent about 75% of our total earnings,” said Jay Hennick, global chairman and CEO of Colliers.
“With Investment Management, Engineering and Commercial Real Estate Services, Colliers has three significant and complementary global growth engines to continue to generate value for shareholders for many years to come.”
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