CBRE has closed the $1.5 bn (€1.3 bn) acquisition of facility management firm Global Workplace Solutions from New York-listed Johnson Controls.
CBRE has closed the $1.5 bn (€1.3 bn) acquisition of facility management firm Global Workplace Solutions from New York-listed Johnson Controls.
Global Workplace Solutions provides enterprise facilities management solutions for global corporations and other large occupiers of commercial real estate. The business generated revenue of more than $3 bn in the 2014 calendar year.
CBRE's global full-year 2014 revenue was $9 bn.
'This transaction creates an exciting proposition for companies seeking a sole provider of real estate and facilities services globally by materially broadening our suite of occupier services and enhancing our ability to provide world-class capabilities across global markets,' said Ian Entwisle, EMEA CEO of Global Workplace Solutions at CBRE.
'In EMEA, the acquisition of Norland in December 2013 brought a fast-growing integrated facilities management capability into our UK business and we are looking forward to replicating this success in the 30 markets in EMEA where GWS is active.'
