DGAP-News: FirstService Corporation /
FirstService Acquires Leading Property Specialist in London

16.06.2014 / 13:00

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Addition Strengthens Colliers International's Investment and Office Agency
Practice in UK and Europe 

TORONTO and LONDON, 2014-06-16 13:00 CEST (GLOBE NEWSWIRE) --
FirstService Corporation (Nasdaq:FSRV) (TSX:FSV) announced today that its
subsidiary, Colliers International ('Colliers') has acquired H2SO Property
Consultants ('H2SO'), one of London's leading independent commercial property
specialists. The new business will strengthen and expand the rapidly growing UK
operations of Colliers, augment its existing investment and office agency
expertise and complement the acquisition completed earlier in the year of a
leading retail specialist. The addition will also expand operations throughout
the UK, Europe and globally as more clients seek service providers to advise
them on real transactions around the world. During 2013, the new acquisition
generated approximately US$12 million in annual revenue. 

Founded in 2009, H2SO employs a large group of high-quality commercial property
professionals providing clients with unique market insight and a value-added
approach to leasing, investment, development and asset management instructions.
Since inception, the business has advised on over [Pounds]5 billion of capital
transactions and leasing instructions representing more than 2.5 million square
feet (232,000 square meters) of commercial and office space. Industry leaders
Paul Smith, David Hanrahan, Rob Hayes and John Olney will lead the combined
Colliers Central London Offices team of more than 40 professionals from 50
George Street in the West End as well as Colliers' new office at 35 King Street
in the City. 

'One of our key strategic goals is to expand our UK transactional business,
particularly in London, and build a team of industry leading professionals that
can serve the most discerning clients. This combination of professionals from
both organizations will allow us to 'raise the bar' even further in the Central
London investment and office market and contribute to the changing landscape of
one of the world's leading and most exciting cities,' said Tony Horrell, CEO of
Colliers UK and Ireland. 'Both firms have an enterprising culture and approach
to excellence that will help define our service offerings for many years to
come,' he concluded. 

'Integrating our business with Colliers was a natural step for us and one that
enables all of our professionals to broaden their service capabilities and
service their clients globally,' said Rob Hayes of H2SO. Leveraging our
combined operations with the expertise and resources of Colliers, the third
largest player in commercial real estate globally, will enable us to capitalize
on global mandates and deliver customized real estate services to our clients
seamlessly, anywhere in the world. We are all thrilled with this development
and look forward to the opportunity to grow and develop the business for many
years to come.' 

'I want to take this opportunity to welcome the fine group of professionals
from H2SO and look forward to helping them accelerate their success as part of
Colliers,' said Chris McLernon CEO of the EMEA for Colliers. 'Over the years we
have been disciplined with the addition of new partners who have the ability
and passion to deliver excellence and strive to provide enterprising solutions
to clients. We could not have found a better group than the extraordinarily
high calibre professionals from H2SO,' he concluded. 

ABOUT FIRSTSERVICE

FirstService Corporation is a global leader in the rapidly growing real estate
services sector, one of the largest markets in the world. FirstService manages
more than 2.5 billion square feet of residential and commercial properties
through its three industry-leading service platforms: Colliers International -
one of the largest global players in commercial real estate services;
FirstService Residential - North America's largest manager of residential
communities; and FirstService Brands - one of North America's largest providers
of essential property services delivered through individually branded franchise
systems and company-owned operations. 

FirstService generates more than US$2.3 billion in annual revenues and has more
than 24,000 employees world-wide. With significant insider ownership and an
experienced management team, FirstService has a long-term track record of
creating value and superior returns for shareholders since becoming a
publically listed company in 1993. The common shares of FirstService trade on
the NASDAQ under the symbol 'FSRV' and on the Toronto Stock Exchange under the
symbol 'FSV'. More information is available at www.firstservice.com. 

ABOUT COLLIERS INTERNATIONAL

Colliers International is a leading global commercial real estate services
company in the world, with over 15,800 professionals operating out of more than
485 offices in 63 countries. A subsidiary of FirstService Corporation, it
focuses on accelerating success for its clients by seamlessly providing a full
range of 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. 


         CONTACT: FIRSTSERVICE CONTACT:
         John Friedrichsen
         Senior Vice President & CFO
         (416) 960-9500
         
         COLLIERS CONTACTS:
         Chris McLernon
         CEO, Colliers International EMEA
         44 20 7487 1651
         
         Tony Horrell
         CEO, Colliers International UK & Ireland
         44 20 7487 1771
         
         H2SO CONTACTS:
         Rob Hayes
         44 20 7788 8954
News Source: NASDAQ OMX


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Language:    English                   
Company:     FirstService Corporation  
 
 
             Canada                    
ISIN:        CA33761N1096              
 
 
End of News    DGAP News-Service  
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