Colliers acquires Englobe
Professional services firm Colliers announced last week that it has entered into an agreement to acquire engineering firm Englobe Corporation.
Headquartered in Laval, Québec, Englobe provides civil, buildings, geotechnical, and environmental engineering, material testing and related consulting services to public and private sector clients primarily in the transportation, water, buildings, and power end markets.
In 2023, the company generated US$340 million of revenues. It will be rebranded as Colliers in 2025.
Colliers will acquire a significant controlling interest in the company for approximately US$475 million. However, Englobe’s material management and beneficial reuse operations located in the UK, France and Canada 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 Colliers CEO Jay Hennick.
The transaction is expected to close in the third quarter of this year. The terms of the arrangement see Englobe’s senior leadership team and 2,800 employees remain shareholders in the business.
“Colliers’ enterprising culture, decentralized operating style, focus on service excellence and employee engagement align well with Englobe’s key values,” 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 completes more than 25,000 projects annually.