Colliers International Group Inc. has announced a landmark acquisition that will reshape Canada’s commercial real estate landscape. The Toronto-headquartered global real estate services firm has entered into a definitive agreement to acquire 100% of Triovest’s Canadian operations from Calgary-based Coril Holdings.
The deal, expected to close by the end of Q2 2025, will see Triovest — one of Canada’s leading commercial real estate management and advisory firms — fully integrated into Colliers’ operations, significantly strengthening its domestic position. Financial terms of the transaction were not disclosed.
“This is a strategic move that accelerates our growth and cements our leadership in the Canadian market,” said Brian Rosen, President & CEO of Colliers Canada, in a statement.
Coril Holdings Shifts Strategy as Triovest Joins Global Brand
Coril Holdings, a private asset manager headquartered in Calgary, has owned Triovest since its inception. The company also owns Minnesota-based Loram Maintenance of Way, a global provider of railway maintenance services and equipment.
“After many years as a privately held company, we believe now is the time to accelerate Triovest’s growth by merging its operations with Canadian-based Colliers, one of the top global players in commercial real estate,” said Deanna Zumwalt, president and CEO of Coril Holdings, in a statement.
The divestment aligns with Coril’s broader strategy of focusing on its global industrial assets.
What the Acquisition Means for Colliers and Triovest
Colliers, a publicly traded company listed under the ticker CIGI-T, operates a diversified global platform that spans real estate services, engineering, and investment management. As of the end of 2024, the firm reported revenues of US$4.82 billion, assets under management (AUM) of US$99 billion, and a global team of 23,000 professionals.
Triovest, founded in 1995, has carved out a strong reputation in Canada for providing asset, property and development management services across all major commercial real estate asset classes. The company manages approximately 36 million square feet of property and has $2.5 billion in projects currently under development. In 2024, Triovest reported revenues of approximately $70 million.
With this acquisition, Triovest’s brand will be phased out as its operations are integrated into Colliers. The combined entity will employ more than 3,000 people across Canada, manage over 95 million square feet of commercial real estate, and oversee more than $15 billion in development projects.
Reinforcing Colliers’ Strength in Asset and Development Advisory
The merger is expected to significantly bolster Colliers’ Canadian platform, particularly in asset management and development advisory. Triovest’s experience and institutional relationships will complement Colliers’ existing strengths, adding depth and scale to the company’s service offerings.
Triovest has been led since 2020 by president and CEO Ted Willcocks, a well-known figure in the Canadian real estate sector. His leadership during the integration period will be instrumental in ensuring a smooth transition.
Part of a Broader Global Expansion Strategy
The acquisition of Triovest is consistent with Colliers’ aggressive growth strategy over the past several years. In 2024 alone, Colliers made multiple high-profile investments and acquisitions aimed at broadening its global footprint and diversifying its services.
In July 2024, Colliers invested US$475 million to acquire a controlling stake in Toronto-based Englobe, a multidisciplinary engineering, environmental, and inspection firm. That same year, Englobe went on to acquire Goodkey, Weedmark & Associates Ltd., further expanding Colliers’ reach in Canada’s engineering and building sciences sectors.
Internationally, Colliers has been active in Australia, acquiring a controlling interest in urban planning and design advisory firm Ethos Urban in February 2025. That followed its 2024 purchases of TTM Group (transportation engineering) and Pritchard Francis (engineering consulting).
The company also strengthened its U.S. operations by acquiring Colliers Philadelphia, a former affiliate, in April 2024.
A New Era for Commercial Real Estate in Canada
By acquiring Triovest, Colliers not only becomes Canada’s largest commercial real estate services firm but also positions itself to compete more effectively in a rapidly evolving and competitive global real estate market. The combined company will benefit from increased scale, operational efficiencies, and a broader client base spanning institutional and private investors.
The acquisition also reflects a broader consolidation trend in Canada’s commercial real estate sector, as firms seek to increase competitiveness through expanded services, greater geographic reach, and digital transformation.
