Colliers International Group has acquired Finland-based Ovenia Group, a real estate management and service company. Financial details of the transaction were undisclosed.
“This acquisition represents an important milestone in our Nordic and pan European growth strategy,” said Chris McLernon, Colliers International CEO, EMEA. “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.”
For the last 12 months, the company generated revenues of more than $50 million.
Ovenia will immediately rebrand as Colliers International throughout Finland.
During the third quarter 2017, Finland’s GDP growth estimate for 2017 was further revised up by 40 bps to 2.5 percent compared to the estimate made during the second quart
