CBRE Group Acquires Pearce Services from New Mountain Capital

CBRE Group, Inc. agreed to acquire Pearce Services, LLC from New Mountain Capital for approximately $1.2 billion in cash plus an earn-out of up to $115 million. The acquisition expands CBRE's digital and power infrastructure capabilities by adding Pearce's design engineering, maintenance and repair services for critical power, cooling, renewable energy and telecom infrastructure; Pearce has more than 4,000 employees and is projected to generate over $660 million of revenue in 2026.