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Colliers buying Canadian engineering firm Englobe

By Adam Freill   

Construction

Company will expand its engineering capabilities into Canada with purchase of Canadian multi-disciplined engineering, environmental and inspection services company.

Global professional services and investment management company Colliers is set to acquire Englobe Corporation, a Canadian multi-disciplined engineering, environmental and inspection services firm. Headquartered in Laval, Que., Englobe has a team of 2,800 professionals who provide civil, buildings, geotechnical and environmental engineering, material testing and related consulting services to public and private sector clients.

Under the terms of the transaction, Colliers will acquire a significant controlling interest for approximately US$475 million in cash. Englobe’s material management and beneficial reuse operations located in the U.K., France and Canada, which consist of soils and organic waste treatment facilities and certain environmental remediation operations, are not included in the transaction.

“The acquisition of Englobe marks a significant entry for Colliers into the Canadian engineering marketplace and aligns perfectly with our strategy of enhancing our growing professional services and investment management company with high-value, resilient, and essential services,” said Jay Hennick, global chairman and chief executive officer of Colliers. “Once the transaction is completed, recurring earnings from engineering, investment management and outsourcing will collectively represent about 75 per cent of our total earnings.”

“Building on our success in the U.S. and Australia, we look forward to entering the attractive Canadian

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engineering services market, a business that complements our current leadership in project management in Canada,” said Elias Mulamoottil, co-chief investment officer of Colliers. “Englobe’s national footprint, deep public sector relationships, and infrastructure expertise put Colliers Canada in an enviable position to capitalize on industry tailwinds that drive this stable and predictable business.”

“Colliers’ enterprising culture, decentralized operating style, focus on service excellence and employee engagement align well with Englobe’s key values, making Colliers the perfect partner for the next chapter of our journey,” said Englobe president Mike Cormier. “Joining a best-in-class professional services organization with a global brand and international platform will allow us to accelerate our growth going forward, as well as offer better services to our clients and more opportunities to our professionals. Our team is more than excited to join the Colliers family.”

Englobe’s senior leadership team and employee shareholders will remain shareholders in the business under Colliers’ unique partnership model, and the business will be rebranded as Colliers in 2025. The transaction is expected to close in the third quarter of 2024.

 

www.colliers.com

www.englobecorp.com

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