Global real estate services and investment firm CBRE is continuing its strategic expansion in the data centre segment. As the company announced, CBRE is acquiring London-based infrastructure specialist Onnec Group Limited for a cash price of 610 million dollars. The agreement also provides for further performance-related payments of up to 400 million dollars over the coming years, contingent upon meeting defined growth targets.
Following completion of the transaction, Onnec will be integrated into CBRE's Critical Infrastructure Services division. The services provider forecasts total revenue of nearly 4.5 billion dollars for this business line by 2027, which already reflects the new earnings contributions from the Onnec acquisition. In the second quarter of 2026, CBRE already generated revenues of over 700 million dollars from data centre-related services.
Strategic expansion of the infrastructure division
Vikram Kohli, Chief Operating Officer of CBRE, explained that the group is pursuing a focused strategy to build a global infrastructure services business alongside its traditional real estate services. He noted that Onnec has long been an outstanding fit for this concept. Furthermore, the acquisition aligns with ongoing efforts to establish resilient business models that benefit from long-term structural trends.
Founded in 1986, Onnec Group employs around 800 people. The company specialises in installing technical equipment and connectivity solutions inside data centres for so-called hyperscalers across the United Kingdom, continental Europe, and the Asia-Pacific region. The full closing of the sale is expected to be completed by the end of this year.
Barry Horgan, Chairman of Onnec, emphasised that the firm has focused on sophisticated connectivity solutions for clients since its inception. As part of CBRE, Onnec will gain the platform and additional expertise required to significantly expand its range of services, create added value for clients, and unlock new development opportunities for its staff.
Focus on internal technical fit-out
J.P. Morgan Securities acted as financial advisor to CBRE on the transaction, while Goldman Sachs International represented Onnec Group. For CBRE, the purchase represents the second targeted acquisition of a firm operating directly inside data centres, rather than restricting itself to traditional areas such as construction, management, financing, or leasing of the building shell.
Back in June 2024, CBRE acquired US-based Direct Line Global, a provider of technical infrastructure services, design, and physical installations in server centres, whose clients include corporations such as AWS, Microsoft, and Meta.
