CBRE to acquire Onnec for £460M cash plus up to £300M earnout, expanding data center services

CBRE GROUP, INC.

Initial purchase price £460M (~$610M) in cash, plus multi-year earnout of up to £300M (~$400M) tied to Onnec growth thresholds.
Onnec expected to post ~£370M ($498M) revenue and >£50M ($67M) core EBITDA in 2027; deal immediately accretive to CBRE core EPS.
London-based Onnec (founded 1986, ~800 employees) designs, deploys and maintains network, fiber and data center infrastructure for hyperscalers in UK, Europe and APAC.
CBRE sees its Critical Infrastructure Services line at nearly $4.5B of 2027 revenue, lifting total infrastructure services revenue to almost $7.0B.
Subject to customary regulatory approvals; closing expected around the end of the year. J.P. Morgan advised CBRE, Goldman Sachs advised Onnec.

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