Video still: Pearce Services

Dallas-based real estate services giant CBRE Group (NYSE:CBRE) has acquired Pearce Services, a provider of advanced technical services for digital and power infrastructure, from New Mountain Capital for an initial purchase price of roughly $1.2 billion in cash plus a potential earn-out of up to $115 million.

“This acquisition complements our large and growing presence in digital and power infrastructure,” CBRE Chair and CEO Bob Sulentic said in a statement. “It also opens sizable new growth avenues for CBRE in markets where the need for Pearce’s services is growing rapidly.”

Pearce has 4,000 employees in North America and India

Founded in 1998 and headquartered in Paso Robles, California, Pearce provides design engineering, maintenance, and repair services for blue-chip clients in North America that depend on it to optimize asset uptime and output. Pearce’s primary markets are critical power & cooling systems (34% of expected 2025 revenue), renewable energy generation & storage (30%), wireless & fiber networks (29%), and electric vehicle charging networks (7%).

CBRE said that Pearce has more than 4,000 employees in North America and India. Its workforce includes “highly trained technicians” throughout North America as well as teams of design engineers and quality assurance specialists in both North America and India.

“We’re thrilled to join forces with CBRE, whose strategy and culture are highly complementary to ours,” Pearce CEO Michelle Edler said in a statement. “Together, we’ll unlock significant growth opportunities across the infrastructure markets we serve and deliver even greater value to our customers.”

CBRE said that Pearce’s revenue has grown at a low double-digit compound annual rate since 2022 and that for 2026, Pearce is projected to generate more than $660 million of revenue and more than $90 million of EBITDA.

With the acquisition, CBRE said it expects to generate more than $350 million of Core EBITDA from digital and power infrastructure services businesses in 2026, not including gains from potential data center development land sales.

J.P. Morgan Securities LLC and Wells Fargo are acting as financial advisors and Sullivan & Cromwell LLP as legal advisor to CBRE. Ropes & Gray LLP is acting as legal advisor to Pearce and New Mountain Capital.

CBRE Group is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). It has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries.

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R E A D   N E X T

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