CBRE Group Inc, the world’s largest commercial real estate services and investment firm, has acquired Pearce Services LLC from New Mountain Capital for an initial $1.2 billion in cash, with an additional earn-out of up to $115 million contingent on Pearce meeting performance thresholds in 2027.

Pearce Services is a leading provider of advanced technical services for digital infrastructure, wireless networks, fiber, broadband, and power systems. The acquisition expands CBRE’s capabilities across mission-critical field services in fast-growing infrastructure segments.

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Parties Involved

• Acquirer: CBRE Group, Inc.

• Seller: New Mountain Capital

• Target: Pearce Services LLC

• Legal Counsel to CBRE: Sullivan & Cromwell LLP

• India Counsel to CBRE: Khaitan & Co

• Legal Counsel to Pearce & New Mountain Capital: Ropes & Gray LLP

Legal Advisory — Sullivan & Cromwell (Global Counsel to CBRE)

Sullivan & Cromwell acted as lead counsel to CBRE Group on the global transaction. 

Legal Advisory — Khaitan & Co (India Counsel to CBRE)

Khaitan & Co advised CBRE Group on all Indian law aspects of the acquisition, assisting Sullivan & Cromwell with due diligence, regulatory review, and transaction documentation.

Core Transaction Team (Khaitan & Co)

• Rabindra Jhunjhunwala, Partner

• Ayush Nanda, Counsel

• Arun Kumar, Senior Associate

• Alivya Sahay, Associate

Regulatory Advisory

• Moin Ladha, Partner

Employment Law

• Deepak Kumar, Partner

• Archika Dudhwewala, Principal Associate

Competition / Antitrust

• Anisha Chand, Partner

• Yatharth V Singh, Senior Associate

• Aujaswi Maken, Associate

Intellectual Property

• Sourav Dan, Counsel

• Vaishali Adhikari, Associate

Legal Advisory — Ropes & Gray (Counsel to Pearce & New Mountain Capital)

Ropes & Gray advised Pearce Services LLC and New Mountain Capital with a multi-disciplinary international team covering private equity, finance, tax, compensation, IP, environmental, litigation, enforcement, and data privacy.

Key Deal Team (Ropes & Gray)

• Todd B. Kornreich, Partner – Private Equity

• Carl Marcellino, Partner – Private Equity

• Stefanie Birkmann, Partner – Finance

• Alyssa Kollmeyer, Partner – Tax

• Danna Kivell, Partner – Executive Compensation & Employee Benefits

• Jordan Altman, Partner – IP Transactions

• Peter Alpert, Partner – Environmental

• Jonathan Klarfeld, Partner – Litigation & Enforcement

• Fran Faircloth, Partner – Data Privacy

Supporting Counsel & Associates

• Sean Smith, Counsel

• Jenny Cooper, Counsel

• Heather Sprague, Counsel

• Kurt Fowler, Counsel

• Brian Durkin, Associate

Key Transaction Highlights

• The acquisition strengthens CBRE’s presence in digital infrastructure technical services, including cell towers, EV charging, solar, backup power, and broadband.

• Pearce Services’ expertise provides CBRE with deeper capabilities in field operations, network maintenance, and critical infrastructure support.

• Earn-out mechanism ensures alignment of performance and growth objectives through 2027.

Strategic Significance

This acquisition aligns with CBRE’s strategy to expand beyond traditional real-estate services into future-ready infrastructure ecosystems driven by:

• increasing data consumption,

• energy transition initiatives,

• EV and telecom infrastructure growth, and

• resilience demands across digital networks.

By integrating Pearce Services, CBRE strengthens its end-to-end digital infrastructure solutions portfolio.

About the Parties

CBRE Group, Inc.

A Fortune 500 global real estate and investment services company with 140,000+ professionals across more than 100 countries.

Pearce Services LLC

A leading technical services provider in digital and power infrastructure, serving telecom, utilities, renewable energy, and broadband sectors.

New Mountain Capital

A growth-oriented private equity firm managing over $45 billion in assets.

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Disclaimer

This article is for informational purposes only and does not constitute legal or financial advice. Readers should consult professionals before making decisions