CBRE has acquired Onnec Group Limited in an all-cash transaction valued at $610 million, expanding its technical capabilities inside operating data center facilities. Commercial Observer reported that the real estate services and investment firm also agreed to pay up to $400 million in additional consideration over the coming years based on Onnec meeting specific growth milestones.
Onnec will fold into CBRE Critical Infrastructure Services business line. That division is projected to produce nearly $4.5 billion in total revenue in 2027, factoring in newly added contributions from the Onnec transaction. The acquisition is expected to close by the end of this year.
What happened
Founded in 1986, London-based Onnec employs approximately 800 people who install physical infrastructure and connectivity equipment inside data center facilities for hyperscale clients across the U.K., Europe, and the Asia Pacific region. J.P. Morgan Securities arranged the financing for CBRE, while Goldman Sachs International acted as financial representative for Onnec.
The purchase marks the second time CBRE has bought an enterprise focused on work inside data center halls rather than conventional real estate functions such as site acquisition, development, property management, financing, and leasing. In June 2024, CBRE purchased United States based Direct Line Global, a firm providing design, technical infrastructure services, and installation for major technology operators including AWS, Microsoft, and Meta. During the second quarter of 2026, CBRE generated more than $700 million in revenue from data center services, according to figures cited by Commercial Observer.
What it changes for a closing
For deal teams closing data center construction financings, recapitalizations, and acquisitions, the transaction illustrates how major real estate service platforms are consolidating internal fit-out and technical cabling capabilities alongside debt placement and asset management.
Lenders and borrowers underwriting hyperscale facilities increasingly review project delivery contracts that blend commercial property advisory with internal infrastructure deployment. As service platforms absorb technical installation providers operating across international jurisdictions, closing checklists require review of multi-region vendor contracts, cross-border corporate integration, and specialized equipment warranties covering critical IT environments.