CBRE agrees to buy Onnec for $610M, plus up to $400M earnout

Onnec installs and maintains data center cables and equipment racks across Europe and Asia Pacific.

By The Deals DeskWednesday, October 21 at 3:26 PM ET

At a glance

20-second brief

CBRE agreed to acquire London-based Onnec Group for $610 million in cash, The Real Deal reported, citing the Wall Street Journal.
Up to $400 million more could be paid if Onnec hits growth targets in the coming years, pushing the total past $1 billion.
Onnec installs and maintains data center cables and equipment racks, with operations across Europe and Asia Pacific.

CBRE agreed to acquire London-based Onnec Group for $610 million in cash, The Real Deal reported, citing the Wall Street Journal.

Up to $400 million more could be paid if Onnec hits growth targets in the coming years, pushing the total past $1 billion.

Onnec installs and maintains data center cables and equipment racks, with operations across Europe and Asia Pacific.

Continue your research

Save this analysis and keep the funds you follow together in My Desk.

Sources & further reading

ASCP supplied $18 million in equity, roughly a third of the purchase price, and the county agreement sets income bands across all 260 units.

Deals

The 132,055-square-foot building, completed in 2023, was sold by Bluewater Property Group and Affinius Capital.

Capital

The Oct. 19 notice lists an undisclosed offering amount and zero sold, with no strategy, target or investors stated.

Elsewhere in the networkAll titles →

Private Infrastructure Daily