CBRE to Buy Onnec Group for Initial $610 Million in Cash
The all-cash purchase is framed as a step toward a global infrastructure services business that would sit alongside CBRE’s real estate franchise.
CBRE Group, Inc. (CBRE) agreed to buy Onnec Group Limited for an initial purchase price of £460 million, or approximately $610 million, in cash, a transaction the company said is expected to close around the end of the year.
The global real estate services firm said the acquisition will significantly enhance its ability to support clients’ data center needs on a global basis. Chief Operating Officer Vikram Kohli said CBRE is pursuing an explicit strategy to build a global infrastructure services business to complement its real estate services business, and that the company has long believed Onnec is an excellent fit in that strategy.
In November 2025, CBRE announced the acquisition of Pearce Services, LLC, a provider of advanced technical services for digital and power infrastructure, for an initial purchase price of approximately $1.2 billion in cash plus a potential earn-out of up to $115 million. That business was expected to operate in the Building Operations & Experience segment and to be immediately accretive to core earnings-per-share. Chair and chief executive Bob Sulentic said at the time that the Pearce purchase complemented CBRE’s growing presence in digital and power infrastructure.
Onnec specializes in the design, deployment and maintenance of network, fiber and data center infrastructure. The company said the Onnec purchase would strengthen how CBRE supports clients’ data center needs globally. Pearce provides technical services for critical power, cooling, renewables, wireless and fiber networks.
The cash consideration of £460 million, or about $610 million, is the initial purchase price; the agreement also includes a multi-year earnout of up to £300 million (approximately $400 million), subject to Onnec meeting certain growth thresholds. The release did not state an exchange ratio or a premium to a trading multiple. Closing is expected around the end of the year.
CBRE said Pearce would operate as part of Building Operations & Experience, providing technical services for digital and power infrastructure. Kohli said Onnec is an excellent fit in CBRE’s strategy to build a global infrastructure services business to complement its real estate services business.
Stronger demand supports expansion as pricing diverges