|Company name:||Altus Group|
|Net Worth in Figures:||$ 2 Billion (market capitalization)|
|Headquarters in Number:||Toronto, Ontario, Canada|
|Year Founded Date in words:||2005|
|Founder and Co-founder In Words:||Gary Yeomen|
|CEO In Words:||Jim Hannon|
|Company Link Links:||Altus Group|
Altus Group is noteworthy when you talk of companies that grew from the ground to an international level. Gary Yeoman founded Altus Group Limited in 2005.
While there are no clear records of Gary Yeoman’s net worth, Altus group’s net worth is $2 billion, and the company specializes in providing independent advisory services and software to the global commercial real estate industry.
Altus Group has two core segments: Altus CRE consulting and Altus Analytics. The company headquarters is in Toronto, Canada, and it is responsible for providing jobs for approximately 2,427 staff members across North America, Asia Pacific, and Europe. Altus Group is a private company limited by shares.
The Company is on the Toronto Stock Exchange with the symbol AIF. While Gary Yeoman is famous for his works at Altus Group, in 2011, he stepped down as the CEO of Altus Group. But he remains an active member of the board.
Altus Group Growth Journey
2005 to 2011, was Altus Group’s inception period under Gary Yeoman. In 2005, the company made its first major move by going public.
The company came about as a result of the merger between three Canadian real estate consultancy firms. Originally, Altus Group was on the Toronto Stock Exchange as an income trust.
However, due to the implementation of new taxes on trust distribution by the Federal government in 2011, Altus evolved to become a Business Cooperation.
From its commencement, the company focused on offering consultancy services to commercial real estate businesses.
As the company continued to grow, it repositioned itself to offer technical services to help commercial real estate companies manage their portfolios.
Altus group ventured into land survey in Western Canada in 2006, which gave birth to the Geomatics business segment of the Altus Group.
In 2020, the Geomatics company became a private company known as GeoVerra. The company combined Altus Geomatics with WSP’s operation.
Over five years, Altus grew through acquisitions, which focused on Altus’ property tax business. In 2007, the company’s property tax practice, through the acquisition of Edwin Hill, extended into the UK market.
Over the years, the company continued its expansion in the UK by purchasing other companies like Commercial Values and Surveyors (CVS) (2017).
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Altus Group Major Acquisitions
Major acquisitions by Altus Group in the United States include:
- Brazos Tax (2010)
- Complex Property Advisor (2013)
- SC&H Group’s State and Local Practice (2014)
In Asia, Altus Group purchased Page Kirkland in 2009 to break into the Asian market. In 2011, the firm began to expand into technology through the acquisition of Argus Software.
Currently, Altus Group’s Analytic segment includes PricewaterCooper’s valuation management practice, which the company purchased in 2010.
The purchase of Argus was the beginning of the company’s adventure into the commercial real estate software industry.
Altus Group Company Worth
Altus Group has grown to a multinational company through acquisition. As of the end of 2021, the company is worth $2 billion.
With the close of the Q4 2021 balance statement, the company is very positive and is set to hit $400 million in revenue.
The CRE and Altus Analytic segments have contributed immensely to the steady growth of the company over the years.
Altus Group Company Net Worth 2022
According to the Altus Financial report for the fourth quarter and fiscal year 2021, the company’s consolidated revenue was $625.4 million.
Altus remains in a good position to “sustain and grow its market leadership position in CRE intelligence-as-a-service solutions.”—Altus Group.
There is no doubt that Altus Group’s services (mission-critical solutions) are in high demand, coupled with the support of a highly repeatable and economically protected revenue base.
At Altus Analytics, going by the strength of the business in 2021 and the influence of the acquisitions by Altus, the company is strategically positioned to hit another double-digit revenue two years running in 2022.
Altus management also anticipates a double-digit improvement, year-over-year in adjusted EBITDA margins for the fiscal year 2022.
More on the Altus Group Company Net Worth
Going by the company’s fast-tracked growth rates and solid bookings performance, the company is set to meet its aspiring long-term goal of reaching a goal of $400 million in revenue by the year 2023.
At CRE Altus hopes to grow the revenue through Property Tax Business, which is heading for another record revenue year.
The projection is also supported by a noteworthy pipeline of unsettled cases across all three geographical markets and also a healthy accumulation of sales bookings realized through business development activities and record grant billings in the United Kingdom.
There is also a significant market share in the Valuation and Cost Advisory practice. Therefore, continuous modest growth is sure in the two areas with an emphasis on unlocking working efficacies backed by technology.
The company’s consolidated revenue for the year 2020 is $561,156, which showed an 11% increase in 2022. According to Jim Hannon (Chief Executive Officer of Altus), 2021 was a very productive year with an 11% growth in earnings.
Altus entered 2021 strongly positioned to provide competitive services in the industry and accelerate growth through the growth of demand for Altus solutions.
Culled from Altus Group Reports Fourth Quarter and Fiscal 2021 Financial Results
- 2019: An up in revenue from the previous year 2018 with 11.2% to close at $567.4 million in revenue. The company’s combined profit in agreement with IFRS was $18.2 million, increasing the interest margin to 198.7% from the previous year.
- 2018: the consolidated revenue for the year 2018 was $510.4 million, which is a 7.1% growth from the previous year. The company suffered a consolidated loss of $0.48 per share which amounts to $18.4 million.
Culled from globenewswire.com: Altus Group Reports Fourth Quarter and Full Year 2018 Financial Results
Altus Group Staff Strength
Altus Group has a staff strength of approximately 2,427 operating in North America, Asia Pacific, and Europe. The average salary for the Altus Group is $104,948 per annum.
The high tier staff’s average salary is $124,556, while the low tier staff’s salary is around $88,364. According to Salary.com the average staff salary at Altus Group is as follows:
|JOB TITLE||AVERAGE SALARY|
|Applications Support Service Specialist, Multifamily||$79,251|
|Applications Support Services Specialist, Multifamily||$82,042|
|Business Development Associate (Remote)||$87,104|
|Business Development Manager||$146,179|
|Client Support Administrator||$56,725|
|Cloud Solutions Architect||$93,778|
|Commercial Valuation Analyst||$152,122|
|Graduate Commercial Surveyor||$46,370|
|Head of Consulting Services – Remote||$858,090|
|Product Manager, Strategy||$140,764|
|Program Manager (Remote)||$151,774|
|Real Estate Business Consultant||$95,711|
|Real Estate Financial Analyst||$97,202|
|Real Estate Valuation Analyst||$171,208|
|Real Estate Valuation Consultant||$75,805|
|Real Estate Valuation Consultant (Remote)||$84,943|
|Real Estate Valuation Manager||$135,013|
|Real Estate Valuation Manager (Remote)||$104,374|
The average salaries according to salary.com are only estimated averages. The actual salary may vary as a result of several factors.
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Altus Group Revenue
Through acquisitions, the Altus Group has diversified its business into many sectors and has grown its revenue tremendously over the years. The company has grown into two major segments, which are:
- Software and engineering (Altus Analytics)
- Real estate and real estate advisory (CRE Consulting)
Some of the company’s major competitors are Ryan, CoStar Group, and CoreLogic. Ryan remains at the top of the competitor’s list with over 900 more employees than Altus. The company came into existence in Dallas, Texas in 1991 and renders services in the management consulting services.
On the other hand, CoStar generates 388% of the revenue of Altus Group. The company began operation in 1986 and has its headquarters in Washington, District of Colombia.
Also, CoreLogic remains Altus Groups’ biggest competitor with a focus on real estate development and operation. The company’s reputation for its massive revenue generation is significant. It generates $1.1 billion higher than Altus annually.
Altus Group Competitive advantage
One of the company’s greatest advantages over its competitor includes its ability to diversify into other sectors and regions through acquisition.
Over the years, the company has been able to spread into Europe and the Asia Pacific using the same strategy.
If you have ever wondered why Altus’s net worth has grown progressively over the years, it is because of their foresight.
Altus Group Founder/Co-founder
Altus Group came into existence as a result of a merger between three real estate consultancy companies in Canada. One of the companies was under Altus’ first CEO Gary Yeoman.
Currently, there is no concrete information about the net worth of the founder. However, we will keep you updated on that information.
However, what is certain is the fact that under Gary Yeoman, Altus reached a great feat in its financial record.
Altus Group CEO
From 2005 to 2011, Gary Yeoman was the CEO of Altus Group. Nonetheless, he stepped down in 2012 to hand over the mantle of leadership to Robert Courteau.
Under Courteau, the company’s continued its diversification in the area of enterprise software applications. In 2014 Altus acquired Voyanta and in 2018, Talianca, all in line with their expansion plan.
In September 2020, Courteau ended his tenure as the CEO handing over the baton to Mike Gordon. Under Mike, the firm adopted a new strategy known as “Intelligence-as-service”.
The major aim of the strategy is to provide an answer for the performance, and management risks of CRE Assets.
In February 2022, the company made a unanimous decision to hand over the position of CEO to Jim Hannon. Effective from April 1st, 2022, Hannon assumed office as the current CEO of Altus Group.
Altus Group Top 10 Shareholders
According to CNN Money, (April 6, 2022), the top ten shareholders at Altus Group Ltd are:
|Total value ($)||Shares|
bought / sold
|American Funds Small Cap World Fund||8.09%||3,568,988||144,793,843||+29,000||+0.82%|
|T Rowe Price New Horizons Fund||4.36%||1,922,886||78,011,485||-46,974||-2.38%|
|Artisan International Small-Mid Fund||3.71%||1,634,213||66,300,021||+238,000||+17.05%|
|Fidelity Canadian Growth Company Fund||2.88%||1,269,725||51,512,743||0.00%|
|Fidelity Special Situations Fund||1.97%||870,604||35,320,404||0.00%|
|T Rowe Price International Discovery Fund||1.93%||853,100||34,610,267||-22,400||-2.56%|
|iProfile Canadian Equity Private Pool||1.62%||715,550||29,029,864||+35,770||+5.26%|
|Mawer New Canada Fund||1.22%||537,264||21,796,800||-84,400||-13.58%|
|British Columbia Inv. Management Corp||1.11%||488,199||19,806,233||+84,226||+20.85%|
|Columbia Acorn International Fund||1.03%||456,750||18,530,348||0.00%|
Table culled from CNN Business (April 06, 2022).
Altus Group Social Media Handles
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Future of Altus Group
The story of Altus may not be one laden with gold, notwithstanding, the company has a bright future. Going by the company’s progressive growth, it is one with a lot of positive prospects.
Through the acquisition, the company is prepared to occupy key areas of the industry and create a more competitive market.
Altus Group is set to rank among the top-tier companies providing software solutions and property tax consulting in the real estate industry.
Altus Group is one with an elaborate history of success through expansion by acquiring industries in key areas the company has an interest.
Over the years, the company moved from being a “local” Canadian company to a global brand with markets in America, Europe, and the Asia Pacific. The influence of Altus Global is one with a global impact.
One key fact you will notice about Altus Group is that the company has grown over the years through acquisition. While the company started in Canada, it has continued to diversify and grow its presence in other regions.
Altus Group continues to grow its staff strength from 2200 in 2015 to 2,427 in 2022. Going by the company’s financial record, Altus has a very positive future and is well-positioned for growth.
Another notable fact about Altus is that the company relies on acquisition as its major strategy for growth and expansion. With the company’s current growth rate, it is well poised to be among the top tier companies in the near-decade providing software solution.
You may have noticed that the company experienced a lot of growth Under CEO Gary Yeomen and his predecessor, the company may even experience more acquisitions under its current CEO, Jim Hannon.
FAQs Altus Group Net Worth 2022
Altus Group became a company in 2005 as a result of the merger of three Canadian companies.
Gary Yeoman founded Altus Group in 2005.
Altus Group is worth $2 Billion.
Altus Group’s key growth strategy is through acquisition.
Altus Group has two major segments, Altus Analytics and Altus CRE Consulting.
Altus Group is currently operating in North America, Asia Pacific, and Europe.
We hope this article piqued your interest and it answered all the questions you had about the Altus Group prior to reading.
- Altus Group—Software, Data Solutions, And Expert Advice For The Commercial Real Estate Industry
- Salary.com—Altus Group Salaries
- CNN Business—ASGTF: US – Altus Group Ltd Shareholders
- Owler—Altus Group Competitors or Alternatives