CBRE Group said it has agreed to buy Onnec Group Limited for an initial £460 million, or about $610 million, in cash, with an additional earnout of up to £300 million, or about $400 million, tied to growth targets.
Onnec is expected to produce about £370 million, or $498 million, in revenue in 2027 and more than £50 million, or $67 million, in core EBITDA that year. CBRE said the deal should be immediately accretive to core earnings per share.
The acquisition would expand CBRE’s critical infrastructure services business across Europe and Asia Pacific, adding to its existing U.S. data center infrastructure capabilities. CBRE said that business line is expected to generate nearly $4.5 billion of total revenue in 2027, including Onnec’s contribution.
Beyond that unit, CBRE said its project management and advisory businesses are expected to generate almost $2.5 billion of infrastructure services revenue in 2027, bringing total estimated infrastructure services revenue to nearly $7.0 billion. CBRE noted that figure excludes revenue from periodic data center land sales in development.
Onnec, founded in 1986 and based in London, has about 800 employees serving hyperscalers across the U.K., continental Europe and Asia Pacific. CBRE said the transaction is expected to close around the end of the year, subject to regulatory approvals. Today the company's shares have moved -1.74% to a price of $130.77. If you want to know more, read the company's complete 8-K report here.
