Acquisition maximises multi-service offering

Colliers announces expansion in Belgium with the acquisition of BelSquare

LONDON, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Leading diversified professional services and investment management company, Colliers (NASDAQ and TSX: CIGI), announced today that it has acquired a majority interest in BelSquare SRL (“BelSquare”), the Belgium real estate advisor.

This acquisition combines BelSquare with Colliers’ already well-established Belgium team, adding to the services available to clients. Under the guidance of Antoine Derville, CEO of Colliers, France and Belgium, Charles Lasserre and David Vermeesch, who were Managing Partners of BelSquare, become co-heads of the newly formed Colliers Belgium operation. Other members of the leadership team include Annick Vandenbulcke, who as former Managing Director of Colliers Belgium will continue as Head of Occupier Advisory, Colliers, Belgium.

BelSquare is a 26-person strong multi-service business, acting for domestic and international occupier, owner and investor clients. Combined with our existing business, our expanded Belgium operation will have 70 professionals offering multiple services across Agency, Capital Markets, and Occupier Services, including Project Management and Design & Build, Valuations and Property Management.

Davoud Amel-Azizpour, CEO of Colliers, EMEA, said, “Strengthening our pool of experts in Belgium is part of our EMEA Enterprise ’25 Growth strategy. It is fantastic to close the year out with this acquisition and to see the teams begin to integrate. We are confident that this acquisition will lead to an enhanced operation and set us up for long-term growth.”

“The BelSquare team are excited to become part of the Colliers’ industry-leading brand. Through the firm’s global platform, we can accelerate the services offered to our both domestic and international clients,” explained David Vermeesch, Co-Head of Colliers Belgium, formerly BelSquare.
Charles Lasserre, also formerly BelSquare and now Co-Head of Colliers Belgium, added, “We look forward to formally integrating with our new Belgium colleagues and leveraging Colliers’ reach to propel our growth, market share, and client service capabilities.”

Concluding, Antoine Derville, CEO of France and Belgium, Colliers, said, “BelSquare holds a highly-regarded reputation in the local Belgium market, which the team can now build upon with the weight of the Colliers established Belgium team and global platform behind it. Under David and Charles’ leadership, and with Annick’s strong network of occupier clients, our expanded operation will double its revenue, going from strength to strength, and maximising the potential for our clients and our people.”

Media Contact:
Anna Silkstone
Head of Content, EMEA
+44(0)7769 690208

About Colliers

Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 63 countries, our 18,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately 20% for shareholders. With annual revenues of $4.6 billion and $92 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/514a3235-4f41-4939-863e-711e228211b5