CBRE Group, Inc. announced on October 20, 2026, a definitive agreement to acquire Onnec Group Limited, a provider of data center infrastructure services. The transaction is valued at an initial purchase price of £460 million, which is approximately $610 million, to be paid in cash.
In addition to the initial payment, the agreement includes a multi-year earnout provision of up to £300 million (approximately $400 million). This earnout is contingent upon Onnec meeting specific growth thresholds.
According to the filing, Onnec is expected to generate approximately £370 million ($498 million) in revenue and more than £50 million ($67 million) of core EBITDA in 2027. The company will operate as part of CBRE’s Critical Infrastructure Services line of business.
Onnec was founded in 1986 and is headquartered in London. The firm employs approximately 800 people and specializes in the design, deployment, and maintenance of network, fiber, and data center infrastructure. Its clients include hyperscalers across key markets in the United Kingdom, Continental Europe, and Asia Pacific.
The acquisition is subject to customary regulatory approvals and is expected to be completed around the end of 2026. J.P. Morgan Securities, LLC is serving as the financial advisor, and Simpson, Thacher & Bartlett LLP is acting as legal counsel for CBRE. Goldman Sachs International and Freshfields LLP are advising Onnec.
