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Colliers CMN Owner Buying Majority Stake in PKF

TORONTO-The hotel brokerage division of Colliers International's largest member will merge into the San Francisco-based hotel specialist to create the largest hospitality consultancy in the US.

By Brian K. Miller | Updated on January 23, 2007

TORONTO-FirstService Corp., the locally headquartered owner of Colliers Macaulay Nicolls, the largest member of Colliers International, is acquiring an 80% stake in San Francisco-based PKF Consulting & PKF Hospitality Research. Concurrent with the closing, the hotel brokerage and advisory unit of CMN will be merged into PKF, creating the largest hospitality consultancy in the US.

Publicly held FirstService also is acquiring a 60% interest in Canada’s largest project management firm, MHPM Project Managers, and will merge into that CMN’s Canadian project management operations. The senior management of both PKF and MHPM retain the balance of the equity in their respective deals and will continue to operate as partners going forward.

“All partners are staying in,” PKF partner Tom Callahan tells GlobeSt.com. “The vision is that we will grow this with FirstService and Colliers so that we will own a smaller piece of a much bigger pie over the next five yars.”

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