08:40 AM EDT, 06/03/2024 (MT Newswires) -- Colliers International Group ( CIGI ) said Monday it agreed to acquire a controlling interest in Englobe for about $475 million in cash.

The deal for the engineering and inspection services firm is subject to customary closing conditions and is expected to close in Q3.

Under the terms of the acquisition, Englobe's senior leadership team and employee shareholders will remain shareholders.

The company, which generated $340 million in 2023 revenue, will be rebranded as Colliers in 2025.