CBRE Acquires Onnec Group for $610 Million in Cash
CBRE is acquiring London-based data center equipment provider Onnec Group for $610 million to expand its global critical infrastructure services business.
The real estate services firm CBRE announced Tuesday the acquisition of Onnec Group Limited, a London-based provider of data center equipment, for $610 million in cash. The deal includes a potential additional $400 million in payments in the coming years, contingent upon Onnec meeting specific growth targets.
Founded in 1986, Onnec employs approximately 800 people who install equipment for hyperscalers across the United Kingdom, Europe, and Asia Pacific. CBRE will integrate the company into its Critical Infrastructure Services business line, which the firm expects will generate nearly $4.5 billion in total revenue by 2027. This transaction follows CBRE's 2024 purchase of Direct Line Global, marking its second acquisition of a company operating within data centers.
J.P. Morgan Securities financed the deal for CBRE, while Goldman Sachs International represented Onnec. The transaction is expected to close by the end of 2026.
