Linda Lindner reports for NJBIZ
March 9, 2020 11:45 am

Colliers International said Monday it entered into an agreement to acquire a controlling interest in Red Bank-based Maser Consulting.

By the first quarter of 2021, the business will be rebranded as Colliers Engineering Services. Maser’s senior leadership, which announced changes in January, will remain significant shareholders of the business under Colliers’ unique partnership model.

The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2020.

Maser is one of the leading multi-discipline engineering design and consulting firms in the U.S. The company provides planning, consulting and design engineering services to multiple end markets including site civil, survey and geospatial, transportation, water and wastewater, telecommunication and geo-environmental. In 2019 Maser generated revenue of $167 million.

“Our investment in Maser is another step forward in our strategy of adding more highly valued, essential services to our private and public real estate and infrastructure clients,” said Jay Hennick, global chairman and chief executive officer of Colliers International.

“Our partnership with Colliers – the first in our industry – is the next evolution of our business,” said Richard Maser, Maser founder and chairman. “Colliers’ enterprising culture, decentralized management style, significant insider ownership and proven track record were important factors in choosing our strategic partner.”

In connection with this transaction, AEC Advisors acted as financial advisor and Sidley Austin acted as legal advisor to Colliers.

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