Colliers CEO: Got a deal for us? Call me
The chief executive of Colliers International says the company is ready and able to hit the acquisition trail – and is eager to hear pitches.
“If anybody in your investment banking area has a great opportunity for us to consider, I’ll give you my home phone number, my wife’s phone number, and even my kid’s phone number,” Jay Hennick told analysts on a call to discuss the company’s quarterly and full-year results.
Asked where he saw “white space” into which the firm can grow, Hennick replied: “That’s the beauty of our business – we have so much white space, virtually everywhere, even in markets where we are the hands-down market leader.”
The chief executive of Colliers International says the company is ready and able to hit the acquisition trail – and is eager to hear pitches.
“If anybody in your investment banking area has a great opportunity for us to consider, I’ll give you my home phone number, my wife’s phone number, and even my kid’s phone number,” Jay Hennick told analysts on a call to discuss the company’s quarterly and full-year results.
Asked where he saw “white space” into which the firm can grow, Hennick replied: “That’s the beauty of our business – we have so much white space, virtually everywhere, even in markets where we are the hands-down market leader.”
He continued: “Transactions is becoming a small part of our platform and it’s becoming a smaller part of the platform of the other peers out there. It’s the other services that just offer so many opportunities to grow. And when you are a global platform, you have exceptional management teams that know how to operate the Colliers way, know how to integrate acquisitions once they’re completed, [that] gives us a huge, huge advantage to grow our business.”
Hennick added that Colliers’ low leverage and access to capital means “there really isn’t anything within reason we couldn’t buy as long as it enhances our platform”.
Colliers completed four acquisitions during the past year, spending $240m across the deals. The largest were its acquisition of Dougherty to form Colliers Mortgages, and its purchase of Maser Consulting, which is being rebranded as Colliers Engineering and Design.
To send feedback, e-mail tim.burke@egi.co.uk or tweet @_tim_burke or @estatesgazette
