04:29 PM EDT, 10/02/2024 (MT Newswires) -- Colliers (CIGI.TO, CIGI), which hit 52 week highs in both Canada and the United States in regular trade on Wednesday, after the closing bells said that its Canadian engineering platform, Englobe, has acquired Goodkey, Weedmark and Associates Ltd., an engineering consulting firm in Ontario.

Terms of the transaction were not disclosed.

However, the company did say in a statement the deal will enhance Englobe's scale and services in Canada's largest market, and added the firm's leadership will become shareholders in Englobe under Colliers' partnership model. The business will be fully integrated into Englobe and will rebrand as Colliers in the future.

"This acquisition is our first follow-on investment in Englobe since establishing our partnership earlier this year and advances an important strategic priority of bolstering our presence in Ontario's engineering consulting market," Colliers' Co-Chief Investment Officer Elias Mulamoottil said.