12B — March 27 - April 9, 2020 — Owners, Developers & Managers — M id A tlantic Real Estate Journal
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O wners , D evelopers & M anagers
ORONTOANDRED BANK, NJ — Com- mercial real estate The business will be rebranded as “Colliers Engineering Services” Colliers to acquire engineering services firm headquartered in Red Bank, New Jersey T
and consulting firms in the U.S. Maser’s senior leader- ship will remain significant shareholders of the business under Colliers’ unique part- nership model. The transac- tion is subject to customary closing conditions and is ex- pected to close in the second quarter of 2020. The business will be rebranded as “Colliers Engineering Services” by the first quarter of 2021. Headquartered in Red Bank, New Jersey with more than 1,000 professionals op- erating from 34 offices across 12 states, Maser provides
planning, consulting and design engineering services to multiple end markets in- cluding site civil, survey and geospatial, transporta- tion, water and wastewater, telecommunication and geo- environmental. The company generated 2019 revenue of $167 million. “Our investment in Ma- ser is another step forward in our strategy of adding more highly valued, essential services to our private and public real estate and infra- structure clients,” said Jay Hennick , global chairman
and CEO of Colliers Inter- national. “The transaction establishes us as a major player in the engineering design and consulting sector in the U.S., providing us with another important engine for growth. We see tremendous potential in this segment of the market and expect to leverage our proven track record, acquisition expertise and global brand and plat- form to grow this business into new markets, as well as cross-sell services to our combined client base.” “Maser ’s long and im-
pressive record of growth in multiple real estate and infrastructure end markets, together with its special en- trepreneurial culture, made it a perfect fit with Colliers,” said Elias Mulamoottil , head, strategic investments | Global of Colliers Interna- tional. “With the expected push to rebuild and upgrade aging infrastructure in the U.S., Maser’s portfolio of ser- vice offerings, long-term con- tractual projects and diverse client mix provide us with significant new opportunities for growth in a segment with stable revenue streams over all economic cycles.” “Our partnership with Col- liers – the first in our indus - try – is the next evolution of our business,” said Rich- ard Maser , Maser founder and chairman. “Colliers’ enterprising culture, decen- tralized management style, significant insider ownership and proven track record were important factors in choosing our strategic partner.” “Without question, our new partnership strengthens our capabilities and provides us with specialized market knowledge and deep client relationships that will ac- celerate our growth in the future,” said Kevin Haney , Maser CEO and president. “Our entire team could not be more pleased by this move.” In connection with this transaction, AEC Advisors acted as financial advisor and Sidley Austin acted as legal advisor to Colliers. In other Colliers news, Evan Zweben , a senior managing director in their Mount Laurel office, has re - cently concluded a series of transactions in the Voorhees, NJ market on behalf of client CPI Companies. The first transaction was the sale of CPI’s 6,700 s/f free standing office build- ing at 513 Centennial Blvd. in Voorhees for $750,000. Concurrently, a coordinated lease was secured at 1010 Haddonfield Berlin Rd. in the nearby Laurel Oak Cor- porate Center of Voorhees, ensuring uninterrupted op- erations for the financial services company. The buyer, a rheumatologist, will soon begin construction and convert 513 Centennial Boulevard into amodernmedi- cal office for his patients.
services and investment m a n a g e - ment f i rm C o l l i e r s I n t e r n a - tional an- nounced it has entered i n t o a n
Jay Hennick
agreement to acquire a con- trolling interest in Maser Consulting P.A. (Maser ), one of the leading multi- discipline engineering design
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