Colliers Completes Acquisition of Ayesa Engineering, Expanding Global Infrastructure Reach

The Quick Take Colliers International (NASDAQ/TSX: CIGI) has completed its acquisition of Ayesa Engineering S.A.U., the engineering division of Spain-based Ayesa Group, expanding its global professional services footprint Ayesa Engineering is a global multidiscipline engineering and project management firm, adding infrastructure and technical consulting capabilities to Colliers' real estate and investment management platform The completed deal strengthens Colliers' competitive positioning against global engineering and advisory firms, with CIGI now spanning both real estate services and infrastructure engineering globally

The acquisition reflects a broader convergence trend within professional services, where traditional real estate advisory firms are expanding into adjacent technical disciplines to capture larger shares of infrastructure and development project budgets. Global infrastructure spending has accelerated as governments prioritize modernization and climate resilience, creating demand for integrated service providers that can manage both the financial and technical dimensions of large-scale projects. Colliers' move positions the firm to compete more directly with established engineering consultancies while offering existing real estate clients a more comprehensive service portfolio.

For Colliers shareholders, the deal represents a strategic shift toward higher-margin technical consulting revenue streams that complement cyclical transactional real estate services. Engineering and project management contracts typically feature longer engagement timelines and recurring revenue characteristics compared to traditional brokerage and advisory mandates. The integration of Ayesa Engineering's capabilities also opens cross-selling opportunities across Colliers' existing client base in commercial real estate, where owners increasingly seek single-source providers for asset repositioning and capital projects.

The Spanish engineering market brings exposure to European Union infrastructure programs and renewable energy projects, sectors experiencing sustained investment momentum. Ayesa Engineering's multidiscipline platform spans transportation, water, energy, and building systems—verticals aligned with both public sector capital plans and private sector ESG commitments. Investors will watch for integration execution metrics and whether the combined entity can win larger, more complex mandates that neither firm could secure independently.

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