Altus Group Income Fund has entered into a non-binding letter of intent to acquire the business assets of Integra Realty Resources, for purposes of combining Integra with Altus. Integra, the largest independent property valuation and counseling firm in the United States, has over 800 employees in 55 offices coast to coast. Consideration is expected to consist of cash and equity, with the cash being raised from cash on hand and bank financing.
“This would represent Altus Group’s most significant acquisition to date and our first foray into the U.S. market,” said Gary Yeoman, Chief Executive Officer of Altus Group. “Looking to the future, Altus continues to target opportunities that offer a solid platform for strategic expansion to meet the needs of our increasingly international client base while adhering to a strict set of acquisition criteria that signify our continued commitment to disciplined, profitable growth.”