Acquisition of Twin Cities real estate services icon Welsh Companies strengthens ongoing commitment to the Midwest market
TORONTO AND MINNEAPOLIS, (April 3, 2017) — Leading global commercial real estate services firm Colliers International Group Inc. (NASDAQ and TSX: CIGI) announced today the acquisition of WelshCo LLC (“Welsh”) and its brokerage, property management, facilities and architecture divisions. Welsh has been an affiliate office of Colliers International since 2010. Terms of the transaction were not disclosed.
Founded in 1977, Welsh stands as a recognized market leader in the greater Minneapolis-St. Paul area for its commitment to clients, offering a full range of services for commercial real estate owners and occupiers. With more than 240 professionals, Welsh provides investment sales, lease brokerage, property management, facilities management, architecture services and project management to local, regional, national and global clients.
“This addition is the latest in a series of targeted strategic acquisitions across the U.S., specifically in the important Midwest region,” said Steve Everbach, Colliers International President | Central Region. “Adding our high-performing Minnesota affiliate as a fully integrated part of our global platform will further strengthen our company nationally and help leverage their managerial talents in other regions.”
“This partnership with Colliers is the next evolution of our business given our shared culture and focus on service excellence,” said Jean Kane, CEO of Welsh. “All of us in our Twin Cities offices are extremely excited about our extended relationship with Colliers International. By partnering with Colliers and leveraging the size, capital and established infrastructure of the Colliers global platform, we will stimulate the growth of our business and be positioned better than ever to serve the expanding needs of our clients and accelerate their success.”
“The Midwest is thriving and Colliers continues to enhance its market leading platform and pursue strategic growth in this important region,” said Marty Pupil, Colliers International President | U.S. Brokerage. “This investment reaffirms our confidence in Jean, her entire team, the Minnesota market, and it advances our goal of supporting best-in-class teams across our business.”