FirstService Establishes New Colliers International Operation in France

TORONTO and PARIS, 2014-10-09 13:00 CEST (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.

"The cultural and strategic fit with Colliers International was apparent from the start," said Gilles Betthaeuser, CEO of AOS Group. "Colliers has an enterprising culture similar to ours; its relentless focus on service excellence is hard to replicate; and its global platform provides our clients with all the execution capabilities we could hope for," he added. "Our entire team is excited about this new development in the history of our company and we look forward to accelerating our growth in the years to come as Colliers International," he concluded.

"Once again our proven partnership model made the difference in helping us complete this landmark acquisition," said Jay S. Hennick, Founder & CEO of FirstService Corporation. "Over the years, FirstService and Colliers have grown by partnering with outstanding professionals like Gilles Betthaeuser – business leaders and teams who have a strong passion for their business and a desire to continue growing and creating value by providing differentiated services to clients. On behalf of our entire organization, I would like to welcome Gilles and his team into our growing family," he concluded.

ABOUT FIRSTSERVICE

FirstService Corporation is a global leader in the rapidly growing real estate services sector. As one of the largest property managers in the world, FirstService manages more than 2.5 billion square feet of residential and commercial properties through its three industry-leading service platforms: Colliers International, one of the top global players in commercial real estate; FirstService Residential, the largest manager of residential communities in North America; and Property Services, a leading North American provider of essential property services delivered through company-owned operations, franchise systems and contractor networks.

FirstService generates over US$2.5 billion in annual revenues and has more than 23,000 employees worldwide. More information about FirstService is available at www.firstservice.com

ABOUT COLLIERS INTERNATIONAL

Colliers International is a leading global commercial real estate services company in the world, with over 15,800 professionals operating out of more than 485 offices in 63 countries. A subsidiary of FirstService Corporation, it focuses on accelerating success for its clients by seamlessly providing a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and research.

         CONTACT: FIRSTSERVICE CONTACTS:
         
         Jay S. Hennick
         Founder & CEO
         -and-
         John Friedrichsen
         Senior Vice President & CFO
         (416) 960-9500
         
         COLLIERS CONTACTS:
         
         Chris McLernon CEO, EMEA Colliers International
         -and-
         Gilles Betthaeuser
         CEO, France, Colliers International
         (44) 20 7487 1651