DGAP-News

FirstService Acquires Leading Property Specialist in London

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