Colliers Expands in the Midwest
- Apr 06, 2017
WelshCo, one of the largest brokerage and property management firms in the Twin Cities area, was recently acquired by global real estate services company Colliers International. With this new acquisition, Colliers is adding more than 240 professionals who will continue to provide investment sales, lease brokerage, property management, facilities management, architecture services and project management to local, regional, national and global clients.
Welsh Construction was not included in the acquisition package. Financial terms of the transaction remained undisclosed.
“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 in prepared remarks. “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,” he added.
WelshCo was founded in 1977 and ranks as the third-largest brokerage and third-largest property management firm in the Twin Cities. The company has been an affiliate of Colliers since 2011. Industry leader Jean Kane stepped in as CEO and controlling owner in 2012. After the buy-out, Keane will remain CEO of Colliers’ Minneapolis office, and the company will be renamed Colliers International | Minneapolis-St. Paul.