CBRE Closes Acquisition of Global Workplace Solutions Business from Johnson Controls, Inc.
September 15, 2015
CBRE announced that it has closed the acquisition of Johnson Controls, Inc.’s 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.
Global Workplace Solutions has been merged with CBRE’s occupier outsourcing business line, and the new combined business has adopted the Global Workplace Solutions name. CBRE’s Global Workplace Solutions business line serves a blue-chip roster of large occupiers across a wide range of industries, particularly financial services, healthcare, industrial/manufacturing, life sciences, technology and telecommunications. CBRE will make available to these clients the full range of its occupier services, including property leasing and sales transactions, project management and construction services, technical engineering, consulting, and more.
CBRE now manages approximately 5 billion sq. ft. of commercial real estate and corporate facilities around the world, including 2.3 billion sq. ft. in the Americas, 1.3 billion sq. ft. in Europe, the Middle East & Africa, and 1.4 billion sq. ft. in Asia Pacific.
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