CBRE Acquires Data Center Equipment Provider Onnec Group for $610M
By Isabelle Durso October 20, 2026 2:04 pm
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CBRE is continuing its investment into data centers with a new all-cash acquisition.
The real estate services and investment firm has acquired Onnec Group Limited, a London-based data center equipment provider, for $610 million, CBRE announced Tuesday. CBRE also agreed to pay up to $400 million more over the coming years based on Onnec’s growth targets.
Onnec will operate as part of CBRE’s Critical Infrastructure Services business line, which is expected to generate nearly $4.5 billion of total revenue in 2027, including new contributions from the Onnec acquisition, according to the brokerage. During the second quarter of 2026, CBRE reported more than $700 million in revenue from its data center services.
“CBRE is pursuing an explicit strategy to build a global infrastructure services business to complement our real estate services business. We’ve long believed Onnec is an excellent fit in this strategy,” Vikram Kohli, CBRE’s chief operating officer, said in a statement. “The acquisition is also consistent with our ongoing effort to build resilient businesses that benefit from secular tailwinds.”
Founded in 1986, Onnec has approximately 800 employees who install equipment inside data centers for hyperscalers across the U.K., Europe and Asia Pacific.
The acquisition is expected to be completed by the end of this year.
“From day one, our focus has been on delivering exceptional connectivity solutions for our customers,” Barry Horgan, chairman of Onnec, said in a statement. “As part of CBRE, we gain the platform and expertise to broaden our capabilities, creating even greater value for our clients, and provide new opportunities for our employees, while staying true to the customer-focused approach that has driven our success.”
J.P. Morgan Securities arranged the financing on behalf of CBRE, while Goldman Sachs International represented Onnec in the transaction.
The deal represents CBRE’s second acquisition of a company operating inside data centers, as opposed to traditional data center work such as construction, management, financing and leasing, according to the Wall Street Journal, which first reported the Onnec deal.
In June 2024, CBRE bought the U.S.-based Direct Line Global, which provides technical infrastructure services, design and physical installation for data centers, with clients that include AWS, Microsoft and Meta.
Isabelle Durso can be reached at idurso@commercialobserver.com.
