Toronto-headquartered Colliers International, specialised in commercial real estate services, has acquired IDB Management, a Belgian asset and property manager.
IDB will be rebranded as Colliers International and the principals will lead its asset and property management segment going forward.
Financial details of the acquisition have not been disclosed.
Pierre-Gilles Solvit, CEO of Colliers Belgium, commented : “As we continue to expand our service capability in Belgium, the addition of IDB’s service offerings complements our existing business and positions us well for future growth.”
Renaud d’Argembeau, CEO of IDB, added : “As we looked to take our business to the next level, it became clear that Colliers was the best partner for our clients and people.
“Their enterprising approach to client service aligns well with our own model of delivering flexible and entrepreneurial services.”
“We serve a prestigious list of international institutional clients and now, as part of the Colliers global platform, we will have the ability to expand client relationships beyond Belgium to other global markets.”
Chris McLernon, CEO, EMEA at Colliers International, pointed out that the Benelux region remains an important market in Europe.
“Strengthening our capability and service offerings, particularly in the area of asset and property management, is essential to our strategy of delivering customized asset and property management services seamlessly to clients throughout Europe and the rest of the world,” he concluded.
Colliers International Group has over 16,300 employees operating from 502 offices in 67 countries.
Founded in 1980, IDB Management is based in Brussels.