CBRE Group said on 20 October 2026 that it had agreed to acquire Onnec Group for £460m (about US$610m) in cash, with up to £300m more payable as an earnout. Onnec designs, builds and maintains network and data centre infrastructure for large technology companies.
Why CBRE Group, Inc. is buying Onnec Group Limited
CBRE said the acquisition extends its Critical Infrastructure Services business into Europe and Asia-Pacific and complements its US data centre infrastructure services. It is pursuing an explicit strategy to build a global infrastructure services business alongside its real estate services.
Deal terms and financing
The upfront consideration is £460m in cash. A multi-year earnout of up to £300m depends on Onnec meeting growth thresholds. CBRE expects Onnec to deliver about £370m of revenue and more than £50m of core EBITDA in 2027, and said the deal would be immediately accretive to core earnings per share.
Regulatory approvals and timing
The deal is subject to customary regulatory approvals and is expected to close around the end of 2026.
Market context
Onnec was founded in 1986, is headquartered in London and has about 800 employees across the UK, continental Europe and Asia-Pacific. CBRE expects its Critical Infrastructure Services line, including Onnec, to generate nearly US$4.5bn of revenue in 2027.
