Maser Consulting PA is headquartered at 331 Newman Springs Road in Red Bank
By Joshua Burd
Colliers International has completed its acquisition of a controlling interest in Maser Consulting PA, a Red Bank-based engineering design and consulting business.
The global commercial real estate services firm, which is based in Toronto, announced in early March that it would acquire Maser as part of a plan to diversify its line of services. The latter will be renamed Colliers Engineering Services by the first quarter of 2021, bringing the power of more than 1,000 professionals operating from 34 offices across 12 states.
Terms of the transaction were not disclosed.
“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, Colliers’ global chairman and CEO. “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. We see tremendous potential in this segment of the market and expect to leverage our proven track record, acquisition expertise and global brand and platform to grow this business into new markets, as well as cross-sell services to our combined client base.”
In a news release, Colliers noted that Maser’s senior leadership will remain significant shareholders of the business under its partnership model. Maser will provide its design engineering and consulting services to multiple end markets including site civil, survey and geospatial, geo-environmental, transportation, infrastructure, water and wastewater, telecommunication and energy.
“Our partnership with Colliers — the first in our industry — is the next evolution of our business,” said Richard Maser, the consulting firm’s founder and chairman. “Colliers’ enterprising culture, decentralized management style, significant insider ownership and proven track record were important factors in choosing our strategic partner.”
Maser generated 2019 revenue of $167 million.
“Without question, our new partnership strengthens our capabilities and provides us with specialized market knowledge and deep client relationships that will accelerate our growth in the future,” Maser CEO and President Kevin Haney said. “Our entire team could not be more pleased by this move.”
AEC Advisors acted as financial adviser to Colliers for the transaction, while Sidley Austin acted as legal adviser to Colliers.
“Maser’s long and impressive record of growth in multiple real estate and infrastructure end markets, together with its special entrepreneurial culture, made it a perfect fit with Colliers,” said Elias Mulamoottil, head of global strategic investments with Colliers. “With the expected push to rebuild and upgrade aging infrastructure in the U.S., Maser’s portfolio of service offerings, long-term contractual projects and diverse client mix provide us with significant new opportunities for growth in a segment with stable revenue streams over all economic cycles.”