Altus Group Strengthens Canadian Cost Consulting Services with Acquisition of Axiom
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TORONTO, ONTARIO (February 2, 2017) – Altus Group Limited (ʺAltus Groupʺ or “the Company”) (TSX: AIF), a leading provider of commercial real estate services, software and data solutions, announced today that it has acquired Axiom Cost Consulting Inc. (“Axiom”) to strengthen the Company’s construction cost consulting and project loan monitoring services in Western Canada.
Founded in 2009, Axiom quickly emerged as a prominent cost consulting firm in Western Canada specializing in construction cost management and project loan monitoring. Based out of Calgary, with offices in Edmonton and Vancouver, Axiom’s team of 11 professionals encompass experience across all the major sectors and asset classes.
“Axiom’s excellent industry reputation and expertise in our business naturally makes them a great fit with our growing team and complements our ongoing efforts to increase market share in Western Canada where infrastructure spending has been on the rise,” commented Michael Commons, Senior Executive Vice President, Cost Consulting at Altus Group. “In addition to the operational, cultural and financial synergies, this acquisition also adds to our bench strength, enhancing the services we provide to our valued clients out West,” added Naren Chande, Senior Executive Vice President, Cost Consulting.
Axiom will be integrated into Altus Group’s North American Cost Consulting division in its Altus Expert Services business unit, providing additional scale and talent resources in support of the Company’s strategy to enhance those services.
About Altus Group Limited
Altus Group Limited is a leading provider of independent advisory services, software and data solutions to the global commercial real estate industry. Our businesses, Altus Analytics and Altus Expert Services, reflect decades of experience, a range of expertise, and technology-enabled capabilities. Our solutions empower clients to analyze, gain market insight and recognize value on their real estate investments. Headquartered in Canada, we have approximately 2,300 employees around the world, with operations in North America, Europe and Asia Pacific. Our clients include some of the world’s largest real estate industry participants across a variety of sectors. Altus Group pays a quarterly dividend of $0.15 per share and our securities are traded on the TSX under the symbols AIF and AIF.DB.A.
Certain information in this press release may constitute “forward-looking information” within the meaning of applicable securities legislation. All information contained in this press release, other than statements of current and historical fact, is forward-looking information. Forward-looking information includes information that relates to, among other things, objectives, strategies and intentions, and future financial and operating performance and prospects. Generally, forward-looking information can be identified by use of words such as “may”, “will”, “expect”, “believe”, “plan”, “would”, “could” and other similar terminology. All of the forward-looking information in this press release is qualified by this cautionary statement. Forward-looking information is not, and cannot be, a guarantee of future results or events. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by Altus Group at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may cause actual results, performance or achievements, industry results or events to be materially different from those expressed or implied by the forward-looking information. Please consult Altus Group’s most recent regulatory filings on SEDAR for more information on the Company’s forward-looking statements.
Camilla BartosiewiczBartosiewiczVice President, Investor Relations