Colliers to acquire Englobe

Logos courtesy Colliers and Englobe.

Colliers, a professional services and investment management company with operations in 68 countries, has entered a definitive agreement to acquire consulting engineering firm Englobe, headquartered in Laval, Que.

“We look forward to entering the Canadian engineering services market,” says Elias Mulamoottil, co-chief investment officer (co-CIO) at Colliers. “Englobe’s national footprint, deep public-sector relationships and infrastructure expertise will put Colliers in an enviable position.”

Under the terms of the transaction, Colliers will acquire a significant controlling interest for approximately US$475 million in cash, payable at closing. The acquisition will not include Englobe’s material management and beneficial reuse operations across Canada, the U.K. and France, which involve soil and organic waste treatment facilities and environmental remediation operations. The firm is known for civil, building, geotechnical and environmental engineering in the transportation, water, construction and power sectors and generated US$340 million in revenue last year.

The transaction is expected to close in the third quarter (Q3) of 2024, subject to customary conditions. Englobe’s senior leadership team and employees—numbering approximately 2,800—will remain shareholders in the business under a partnership model, but Englobe will be rebranded as Colliers in 2025.

“Colliers’ enterprising culture, decentralized operating style, focus on service excellence and employee engagement align well with our key values,” says Mike Cormier, Englobe’s president. “Joining a professional services organization with a global brand will allow us to accelerate our growth and offer better services to our clients and more opportunities to our professionals.”

In connection with the transaction, Torys LLP acted as legal advisor to Colliers. AEC Advisors acted as financial advisor and Stikeman Elliott as legal advisor to Englobe.