FirstService Establishes New Colliers International Operation in France

Major investment adds AOS Group, a market leading commercial real estate and workplace consulting firm with offices in France, Belgium, Spain, Morocco, UK, Netherlands and Switzerland. TORONTO and PARIS, Oct. 9, 2014 (GLOBE NEWSWIRE) -- FirstService Corporation (Nasdaq:FSRV) (TSX:FSV) announced today that its subsidiary, Colliers International ("Colliers") has acquired a controlling interest in AOS Group ("AOS"), one of Europe's leading real estate and workplace consulting firms. Headquartered in Paris, France, AOS will immediately be rebranded as "Colliers International" throughout France, Belgium, Spain, Morocco, UK, Netherlands, and Switzerland. Gilles Betthaeuser, Founder and CEO of AOS Group, will retain the balance of the equity and will continue to lead operations. The acquisition provides Colliers with a significant new base of operations in France and Belgium and augments existing operations in the other markets noted above, by providing Colliers clients with enhanced service offerings in tenant representation, project management and workplace consulting. AOS currently generates approximately US$100 million in annual revenues. Terms of the transactions were not disclosed. Founded in 1997, AOS employs more than 450 real estate professionals including highly experienced commercial and institutional real estate consultants, engineers, architects and designers, project managers, and financial analysts who specialize in creating enterprise value for clients by optimizing their real estate requirements through alignment with their business strategy. By enhancing workplace design, functionality, cost effectiveness, and sustainability, AOS professionals assist with a full range of workplace solutions from concept to execution, ensuring clients secure the most appropriate real estate for their needs, while also transforming their workplace into a competitive advantage that improves employee productivity, collaboration, retention, and recruiting. "Having significant operations in France, one of the world's leading commercial property markets, has been a key priority for us, and with the added benefit of being able to augment our existing operations in other markets with complementary and differentiated services, the addition of AOS takes us to the next level as we continue to grow and develop our business in Europe," said Chris McLernon, CEO of EMEA for Colliers International. "Furthermore, with the strength of our global platform and the Colliers brand, we fully expect to accelerate our clients' success through the future growth and diversification of our existing operations, including services such as property and asset management, property valuations and capital markets," he concluded.