VAAKA PARTNERS SELLS OVENIA, THE LEADING FINNISH REAL ESTATE MANAGEMENT SERVICES COMPANY, TO COLLIERS INTERNATIONAL

VAAKA PARTNERS SELLS OVENIA, THE LEADING FINNISH REAL ESTATE MANAGEMENT SERVICES COMPANY, TO COLLIERS INTERNATIONAL

Ovenia is the leading property management service provider in the Finnish market. The company offers real estate management related services for shopping centers, business premises and residential property owners and users with nationwide operations. Today, Ovenia has an annual turnover of over 45 million euro and it operates from 26 locations. Customers are served by over 500 real estate professionals who provide property and residential management services, technical, environmental and energy efficiency services, and commercial leasing.

”It has been a great journey to take part in developing Ovenia into a leading player within property management in Finland. We are very satisfied to see that we have found a new strong international owner for Ovenia that will continue to develop the company in its following development phase. During our ownership, Ovenia has tripled in size and developed into a full scope property management company serving all real estate customer segments with a broad service offering”, comments Ilkka Hietala, Partner at Vaaka Partners.

“This acquisition represents an important milestone in our Nordic and Pan-European growth strategy,” said Chris McLernon, Colliers International EMEA CEO. “Our clients have been asking us to strengthen our presence in the Nordics for some time and with this investment, we enter the market as the undisputed leader. Our new business in Finland also enhances our existing property and asset management platform throughout the Nordics and wider EMEA region.”

“With a shared culture of service excellence together with the best professionals in the property management industry, we have created an industry leader in Finland,” said Sirpa Ojala CEO of Ovenia. “We currently manage a property portfolio of more than ten million square meters and offer a wide range of best-in-class property management and advisory services to blue-chip clients. Our entire leadership team is excited to be joining Colliers International and to take advantage of their additional resources, unique entrepreneurial culture and ability to serve clients both locally and globally,” she concluded.

About Ovenia

The Ovenia Group is Finland’s leading provider of property and real estate management services and leasing services. The Group comprises Ovenia Oy, Ovenia Isännöinti Oy and Realprojekti Oy. The Ovenia Group is responsible for the maintenance of 19 shopping centres and 1,500 business premises, and the administration of over 50,000 apartments. All services are provided in accordance with the ISO 9001 certification for property management. Ovenia Group operates in 26 localities across Finland and employs over 500 property professionals. www.ovenia.fi, www.realprojekti.fi

About Colliers International Group Inc.

Colliers International Group Inc. (NASDAQ and TSX: CIGI) is an industry leading global real estate services company with 15,000 skilled professionals operating in 68 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.

 Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that helps clients accelerate their success. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 12 consecutive years, more than any other real estate services firm. Colliers also has been ranked the top property manager in the world by Commercial Property Executive for two years in a row.
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More information:

Ilkka Hietala, Partner, Vaaka Partners, mobile: +358 50 358 6929, ilkka.hietala@vaakapartners.fi 
Sirpa Ojala, CEO, Ovenia, mobile: +358 40 566 3466, sirpa.ojala@ovenia.fi