Products You May Like
RED BANK, NJ—Colliers International reports today it has entered an agreement to acquire the controlling interest in locally-based engineering design and consulting firm Maser Consulting P.A.
The deal is expected to close in the second quarter of this year and Colliers states that Maser Consulting will be rebranded as “Colliers Engineering Services” by the first quarter of 2021.
The company, which generated revenue of $167 million in 2019, employs more than 1,000 professionals in 34 offices across 12 states.
Terms of the transaction were not disclosed. AEC Advisors acted as financial advisor and Sidley Austin acted as legal advisor to Colliers in connection with the Maser Consulting agreement.
“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,” says Jay Hennick, Global chairman and CEO of Colliers International. “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.”
Hennick adds that the company sees tremendous growth in this segment of the market.
“Our partnership with Colliers—the first in our industry—is the next evolution of our business,” says 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 what was termed a planned transition, Maser Consulting announced in January that Richard M. Maser, founder of Maser Consulting, was passing the CEO responsibilities to company president Kevin L. Haney, PE. Maser retained his role as executive chairman of the company. Leonardo E. Ponzio retained his position as executive vice president and CAO while continuing to administer the firm’s operational services.
Joseph A. Dopico, PE, long-time division director of civil and site development services for Maser Consulting, assumed responsibilities as chief operating officer of the company.
Maser Consulting has operations in 34 offices in 12 states including: Colorado (1 office); Florida (5 offices); Georgia (1 office); Maryland (1 office); New Jersey (8 offices); New Mexico (1 office); New York (4 offices); North Carolina (3 offices); Pennsylvania (4 offices); Tennessee (1 office); Texas (3 offices) and Virginia (2 offices).
In the New York metro region, the firm maintains its headquarters in Red Bank, NJ. The other seven offices in the Garden State are located in: Clinton, Egg Harbor, Hamilton, Mays Landing, Montvale, Mount Arlington and Mount Laurel.
In New York State, the company has operations in Albany, Goshen and Newburgh in Orange County and Valhalla in Westchester County.