Colliers Boosts Project Management Business
- Apr 22, 2015
Colliers International has strengthened its project management expertise with the acquisition of Strategic Building Solutions, a top Northeast firm that is currently managing $1 billion worth of projects.
The cost of the deal was not disclosed. SBS, based in Madison, Conn., will immediately rebrand itself as Colliers International. Since it was formed in 1996, SBS has grown throughout the Northeastern United States and has offices in Connecticut, Massachusetts, New York, Pennsylvania and Washington, D.C. The firm’s staff of 70 and its leadership will remain intact.
SBS provides energy sustainability management, commissioning and retro-commission services. It manages 10 million gross square feet of LEED-registered space within its commissioning and energy services group. A leader in sustainability, SBS provided commissioning services for three of the nations’ first 10 LEED-registered projects.
“The acquisition of SBS furthers Colliers’ goal of providing clients with an unmatched level of committed service and expertise,” Craig Robinson, President|USA, Colliers International, said in a news release. “With nearly 20 years of experience executing such services as facilities planning, energy management and construction program management, this acquisition ensures our clients are continually delivered a robust set of tools to address their business needs.”
SBS’ team has experience across multiple industry sectors, including financial services, industrial and logistics, healthcare, education and hospitality. They will join the 990 project management professionals, 40 percent of whom are LEED accredited, that Colliers has working around the world.
“We are continuously evolving to stay at the forefront of the dynamic facilities environment in order to meet the ever-changing needs of our clients,” Jon Winikur, principal of SBS, said in the joint announcement. “The integration with Colliers allows us to expand the services, markets and expertise we offer our clients and grow our business. We are particularly excited to be able to retain equity in the future of our company in partnership with such a well-respected organization as Colliers International.”
A subsidiary of FirstService Corp., Colliers offers services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and research.
The acquisition is the second big move Colliers has made in the last two months. In late February, it boosted its Strategy and Innovation division with the purchase of Corporate Portfolio Analytics, a Cambridge, Mass.-based real estate management firm. Colliers said the addition of CP Analytics gives it more strategic planning tools for its Colliers 360 platform and expands the Strategy and Innovation practice that serves larger corporate occupier clients.
It also comes during the same month that CBRE Group, Inc. announced it was expanding its facilities management business with two big deals. The largest was the $1.48 billion acquisition of the Global WorkPlace Solutions unit of Johnson Controls, the market leader in facilities management solutions that will join CBRE’s Global Corporate Services business. Last week, CBRE said it was also purchasing Environmental Systems, Inc., for an undisclosed amount. ESI provides services to more than 180 million square feet of facilities at more than 2,800 U.S. sites and develops solutions for CRE occupiers and owners to efficiently manage building systems.
Analysts have said outsourcing has been a big source of growth for large CRE property services firms, so the Colliers deal for SBS is another example of this trend.