Colliers International acquires LRL Associates

Executive Summary

• Colliers International Group Inc.'s Canadian engineering platform, Englobe Corp., has acquired LRL Associates Ltd., a multidisciplinary engineering consulting firm operating in Ontario and New Brunswick.
• The acquisition is part of Colliers' strategy to bolster its engineering offerings and scale in Canada's largest markets.
• LRL's management team will become shareholders of Englobe under Colliers' unique partnership model, though specific financial terms of the transaction were not disclosed.

Key Details

• Acquirer: Englobe Corp. (Canadian engineering platform of Colliers International Group Inc.).
• Target: LRL Associates Ltd., a multidisciplinary engineering consulting firm.
• Target Location: Ontario and New Brunswick, Canada.
• Target Profile: Founded in 1984; employs 50 professionals providing mechanical, electrical, civil, structural, environmental, and geotechnical engineering consulting services to public and private clients.
• Transaction Structure: LRL's management team becomes shareholders of Englobe under Colliers' partnership model.
• Financial Terms: Not disclosed.
• Strategic Rationale: To strengthen scale and services in Canada's largest market, deepen Englobe's expertise, and leverage a unique partnership model to attract quality firms.

Notable Quotes

• Elias Mulamoottil, Chief Investment Officer of Colliers: "This investment strengthens our scale and services in Canada's largest market... The transaction demonstrates our continued success in attracting quality firms to our platform by leveraging our unique partnership model, enterprising culture and long-term growth aspirations."
• Mike Cormier, President of Englobe: "LRL's professionals have a long-standing track record of providing flexible, turnkey solutions to diverse organizations, thereby deepening Englobe's expertise and allowing us to better serve our collective clients."
• Christian Robichaud, President of LRL: "LRL's culture of client service excellence and rewarding employee experience aligns perfectly with Englobe, making this partnership the obvious next step for us."