CBRE to acquire Onnec for initial £460M in cash
Onnec has approximately 800 employees serving hyperscalers across the United Kingdom, Continental Europe and Asia Pacific.
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Rhea-AI Filing Summary
CBRE Group, Inc. agreed to acquire Onnec Group Limited under a definitive agreement. The initial purchase price is £460 million (approximately $610 million) in cash, with a multi-year earnout of up to £300 million (approximately $400 million), subject to Onnec meeting certain growth thresholds. The transaction is subject to customary regulatory approvals and is expected to be completed around the end of the year.
CBRE expects Onnec to generate approximately £370 million ($498 million) in revenue and more than £50 million ($67 million) in core EBITDA in 2027, and to be immediately accretive to CBRE’s core earnings per share. Onnec will operate as part of CBRE’s Critical Infrastructure Services line, which CBRE expects to generate nearly $4.5 billion of total revenue in 2027, including Onnec. CBRE estimates nearly $7.0 billion of total 2027 infrastructure services revenue, including almost $2.5 billion from its other services businesses; the estimate excludes periodic data center land sales in the development business. Core EBITDA is a non-GAAP measure.
8-K Event Classification
Key Figures
Key Terms
multi-year earnout financial
core EBITDA financial
hyperscalers technical
customary regulatory approvals regulatory
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
This Current Report on Form 8-K is filed by CBRE Group, Inc., a Delaware corporation (the “Company”), in connection with the matters described herein.
Item 7.01 Regulation FD Disclosure.
On October 20, 2026, the Company issued a press release announcing a definitive agreement to acquire Onnec Group Limited, a leading provider of data center infrastructure services across Europe and Asia Pacific. A copy of that press release is attached as Exhibit 99.1 hereto and is incorporated by reference herein.
The information included in this Current Report on Form 8-K under this Item 7.01 (including Exhibit 99.1 hereto) is being “furnished” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
The following documents are attached as exhibits to this Current Report on Form 8-K:
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*Furnished herewith.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: October 20, 2026 |
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CBRE GROUP, INC. |
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Emma E. Giamartino |
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Chief Financial Officer and Chief Investment Officer |
CBRE Press Release
The Onnec transaction is subject to customary regulatory approvals and is expected to be completed around the end of the year.
J.P. Morgan Securities, LLC is acting as financial advisor and Simpson, Thacher & Bartlett LLP as legal advisor to CBRE. Goldman Sachs International is acting as financial advisor and Freshfields LLP as legal advisor to Onnec.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2025 revenue) and a premier provider of critical infrastructure services. The company has more than 155,000 employees serving clients in more than 100 countries. CBRE serves clients through four business segments: Advisory (leasing, sales, debt origination, mortgage servicing, valuations); Building Operations & Experience (facilities management, property management, flex space & experience, critical infrastructure); Project Management (program management, project management, cost consulting); Real Estate Investments (investment management, development). Please visit our website at www.cbre.com. We routinely post important information on our website, including corporate and investor presentations and financial information. We intend to use our website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Such disclosures will be included in the Investor Relations section of our website at https://ir.cbre.com. Accordingly, investors should monitor such portion of our website, in addition to following our press releases, Securities and Exchange Commission filings and public conference calls and webcasts.
About Onnec
Onnec is a leading independent global IT infrastructure solutions and services partner, specializing in providing end-to-end connectivity solutions for data center, office, fulfilment center and other environments. From structured cabling, managed services and networking, our end-to-end services give you the infrastructure you can completely rely on. Onnec is one of the world’s leading exponents in this space and, with approximately 800 full-time employees across EMEA, US and APAC, the company is structured around key global customers to ensure consistency of service and delivery. As such, the company has a loyal customer base of leading businesses with many relationships spanning more than 30 years. Customers benefit from decades of experience and industry-leading standards – deployed at a local level. Onnec is at the center of connections, and strong connections is at the heart of everything Onnec does.
Forward-Looking Statements
Certain of the statements in this release regarding CBRE’s acquisition of Onnec Group Limited that do not concern purely historical data are forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our management’s expectations and beliefs concerning future events affecting us and are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Accordingly, actual performance, results and events may vary materially from those indicated in forward-looking statements, and you should not rely on forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in forward-looking statements, including, but not limited to, the continued growth in clients’ need for Onnec’s services, Onnec’s ability to meet financial performance expectations and CBRE’s ability to operate Onnec as part of its Critical Infrastructure Services business line, as well as other risks and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (SEC). Any forward-looking statements speak only as of the date of this release. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws. If we do update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. For additional information concerning factors that may cause actual results to differ from those anticipated in the forward-looking statements and other risks and uncertainties to our business in general, please refer to our SEC filings, including our Form 10-K for the fiscal year ended December 31, 2025, and
CBRE Press Release
our most recent quarterly financial filings on Form 10-Q. Such filings are available publicly and may be obtained from our website at www.cbre.com or upon request from the CBRE Investor Relations Department at investorrelations@cbre.com.
This press release includes references to Core EBITDA which is a non-GAAP measure. Core EBITDA represents earnings before the portion attributable to non-controlling interests, net interest expense, write-off of financing costs on extinguished debt, income taxes, depreciation and amortization, and asset impairments. We have not provided the most comparable GAAP financial measures nor reconciliations of forward-looking Core EBITDA included in this release to GAAP financial measures because it cannot be done without unreasonable effort because certain items required for such reconciliations are outside of our control and/or cannot be reasonably predicted, such as the provision for income taxes and asset impairments. This non-GAAP measure should not be considered in isolation from, or as an alternative to, financial measures determined in accordance with GAAP. Other companies may calculate Core EBITDA differently, and therefore this metric may not be directly comparable to similarly titled measures of other companies.