BABC Member CBRE
Los Angeles, September 1, 2015 – CBRE Group, Inc. (NYSE:CBG) today announced that it has closed the acquisition of Johnson Controls, Inc.’s (NYSE:JCI) Global Workplace Solutions business. Global Workplace Solutions is a market-leading provider of enterprise facilities management solutions for global corporations and other large occupiers of commercial real estate. Global Workplace Solutions had revenue of more than $3.0 billion in calendar year 2014.
“This is a very exciting step for CBRE,” said Bob Sulentic, the company’s president and chief executive officer. “It advances our strategy of delivering the highest quality, globally integrated services to major occupiers and builds our relationships with many of the world’s most prominent corporations. We are helping our clients to enhance their competitive position by aligning every aspect of how they lease, own, use and operate real estate.”
The advantages of outsourcing real estate services, coupled with the high quality of CBRE’s offering, have fueled long-term, double-digit revenue growth for its occupier outsourcing business line. The addition of Global Workplace Solutions’ expertise around the world in technical engineering, supply chain management, critical facilities and other capabilities adds significantly to CBRE’s already-robust service offering for occupiers.
Global Workplace Solutions is the largest provider of facilities management services outside the U.S., while CBRE’s facilities management services are weighted to the Americas. The combined service offering will provide clients with materially greater scale advantages in virtually every corner of the world.