Colliers International Group (NASDAQ:CIGI) reported double-digit growth in its 2025 fiscal year and moved to significantly expand its footprint in the high-margin engineering sector, announcing a $700 million (USD) deal to acquire Spain-based Ayesa Engineering.
The Toronto-based firm posted full-year revenue of $5.56 billion, a 15% increase over 2024.
Adjusted EBITDA rose 14% to $732.5 million, while adjusted earnings per share climbed to $6.58.
The fourth quarter remained robust despite a cooling broader real estate market, with revenues reaching $1.61 billion—a 7% year-over-year increase—and adjusted EPS hitting $2.34.
The results highlight Colliers’ successful pivot away from purely transactional brokerage fees.
Recurring revenues now account for more than 70% of the company's earnings, driven by its property management, outsourcing, and rapidly expanding engineering platforms.
Free cash flow conversion also remained a standout metric, finishing the year at 105% of adjusted net earnings.
The center of gravity for the company continues to shift toward its Engineering segment, which saw a 40% surge in full-year revenue.
To accelerate this momentum, Colliers signed a definitive agreement to acquire Ayesa Engineering for approximately $700 million (USD) in cash.
The Seville-headquartered firm, which generated $370 million in revenue in 2025, will bring 3,200 professionals across 21 countries into the Colliers fold.
Upon completion in the second quarter of 2026, the deal will solidify Colliers as one of the world's top 30 engineering firms, with nearly 14,000 professionals in the segment.