CMN/Colliers International

CMN/Colliers International
MHPM Project Managers Inc.

MHPM Project Managers Inc.

January 23, 2007 08:01 ET

Colliers Macaulay Nicolls Acquires Majority Interest of MHPM Project Managers Inc.

Move will expanded service offerings and reinforce market leadership in Canada

TORONTO, ONTARIO--(CCNMatthews - Jan. 23, 2007) - Colliers Macaulay Nicolls Inc. ("Colliers CMN"), the largest affiliate in the Colliers International network and subsidiary of FirstService Corporation, acquired a 60% interest in Canada's largest and most experienced project management firm, MHPM Project Managers. The MHPM senior management team will retain the balance of the equity and will continue to operate as partners going forward.

MHPM works for building owners and tenants, providing assertive leadership to ensure on-time, on-budget delivery of new construction, fit-up and renovation projects. Established in 1989, the company has delivered more than 2,500 projects valued at more than $2.5 billion, across Canada and internationally. Canada's largest independent facility project management company, MHPM is currently managing more than 225 projects for clients in more than 85 communities, including the $178 million Richmond Oval, future home to the long track speed skating events at the 2010 Vancouver Winter Olympic games.

Concurrent with the closing, Colliers CMN will merge its Canadian project management operations into MHPM. The combination will complement and enhance Colliers CMN's core business lines, including sale/leaseback, design build and office leasing, and provide clients a single source for a broader array of commercial real estate services. This merger will accelerate growth for both companies into new geographic sectors and markets.

"This move is right on strategy for us," Rick Chichester, President North America, Colliers CMN. "MHPM, with its long heritage and impeccable reputation for excellence, is a great fit with Colliers CMN and will accelerate the growth of our clients immensely. MHPM enhances and significantly expands our project management expertise and enables us to provide a full suite of services to our clients and other users and owners of real estate."

"Expanding our services in project management across Canada is a key component of Colliers CMN's long-term strategy," said David Bowden, President Canadian Brokerage Operations, Colliers CMN. "Combining MHPM's leadership and expertise with Colliers CMN's robust platform and market knowledge will reinforce our position as a market leader and increase the knowledge we provide to our clients to accelerate their growth."

"MHPM has accomplished a great deal in its history and we are certain to accomplish even more in the future with FirstService and Colliers CMN as our partners," said Franklin Holtforster, CEO of MHPM. "Their business skills, strong values and entrepreneurial culture are a perfect fit with our organization and I'm confident they will help us accelerate our growth while retaining the disciplines and qualities that have made our respective companies industry leaders. The partnership approach is becoming more important in business today and our partners and associates could not have found a better match. We are very much looking forward to our future as part of this dynamic and growing organization."

About MHPM Project Managers Inc.

MHPM is Canada's leading project management company focused on facility project delivery. Established in 1989, this ISO 9000 certified company is headquartered in Ottawa with operations in Vancouver, Calgary, Edmonton, Toronto, Burlington, Ottawa, Montreal and Halifax. The company's 110 project management professionals offer services that are customized to meet the sector-specific needs of the company's private and public sector clients. MHPM works for building owners and tenants, providing assertive leadership to ensure on-time, on-budget delivery of new construction, fit-up and renovation projects.

About Colliers CMN & Colliers International

Colliers CMN (www.colliersmn.com) is a leading international real estate services company that provides a full range of services to commercial real estate users, owners and investors worldwide. With annualized revenues in excess of US$600 million, Colliers CMN is the largest member of the Colliers International global network, one of the top three commercial real estate service organizations in the world with annual revenues of US$1.4 billion. The Colliers International global network has 241 offices in 50 countries worldwide (130 in the Americas, 65 in Europe, Middle East and Africa and 46 in Greater Asia).

About FirstService Corporation

FirstService is a leader in the rapidly growing property services sector, providing services in the following areas: commercial real estate; residential property management; property improvement; and integrated security services. Market-leading brands include Colliers International and Cohen Financial in commercial real estate; The Continental Group in residential property management; California Closets, Paul Davis Restoration, Pillar to Post Home Inspections, and Certa Pro Painters in property improvement; and Intercon Security and Security Services & Technologies in integrated security.

FirstService is a diversified property services company with more than US$1.4 billion in annualized revenues and more than 12,000 employees worldwide. More information about FirstService is available at www.firstservice.com.

Contact Information

  • CMN/Colliers International
    David Bowden
    President, Canadian Brokerage Operations
    (416) 500-0120
    or
    CMN/Colliers International
    Rick Chichester
    President, North American Operations
    (213) 627-1214
    Website: www.colliersmn.com
    or
    MHPM Project Managers Inc.
    Franklin A. Holtforster
    President
    (613) 220-4974