CBRE, a real estate services firm, has acquired Pearce Services from New Mountain Capital for nearly $1.2 billion, according to Reuters.
With the potential to earn up to $115 million, Pearce will join CBRE’s building operations and experience unit. This move enhances CBRE’s technical-services offerings across telecom, energy and electric-vehicle charging.
Pearce offers design engineering, maintenance and repair services for critical infrastructure and is expected to help CBRE generate more than $350 million by 2026.
J.P. Morgan and Wells Fargo acted as financial advisers to CBRE, and Sullivan & Cromwell acted as legal counsel. Ropes & Gray acted as financial adviser to Pearce and New Mountain Capital.
