Colliers becomes market leader in Nordics
06 September 2022 - 6:00PM
Leading diversified professional services and investment management
company, Colliers (NASDAQ and TSX: CIGI), announced today that it
has agreed to acquire a controlling interest in Pangea Property
Partners (“Pangea”), a leading capital markets advisor in Sweden
and Norway. Pangea will merge with Colliers’ existing company-owned
operations in Sweden, 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 under Colliers’
unique partnership model. The terms of the transaction were not
disclosed.
Established in 2009, Pangea brings an exceptional
leadership team and world-class expertise from their offices in
Oslo in Norway and Stockholm in Sweden. The combined Colliers
Sweden and Norway operations will have more than 80 professionals
and offer a full suite of services for our clients including
capital markets advisory, debt advisory, project finance, leasing
and sales brokerage, valuations, and project management.
“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,” said Davoud Amel-Azizpour, CEO of Colliers |
EMEA. “We are excited about our new partnership and the opportunity
to leverage our best in class platform in this important and
rapidly growing region.”
“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 advisor in the Nordics. It is important
to us that we partner with an organization that shares our business
philosophy and culture,” said Bård Bjølgerud, Founding Partner and
CEO of Pangea, who will assume the role of CEO, Nordics,
Colliers.
About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading
diversified professional services and investment management
company. With operations in 63 countries, our 17,000
enterprising professionals work collaboratively to provide expert
real estate and investment advice to clients. For more than 27
years, our experienced leadership with significant inside ownership
has delivered compound annual investment returns of 20% for
shareholders. With annual revenues of $4.5 billion and
$81 billion of assets under management, Colliers maximizes the
potential of property and real assets to accelerate the success of
our clients, our investors and our people. Learn more
at corporate.colliers.com,
Twitter @Colliers or LinkedIn.
Colliers Contacts:
Christian Mayer Chief Financial Officer | Global
(416) 960-9500
Davoud Amel-Azizpour Chief Executive Officer | EMEA
(44) 20 7487 7020
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