CBRE Acquires Italian Engineering Services Provider

Geico Lender focuses on providing a broad range of services for the installation of HVAC, building automation and other technological systems for financial institutions and other private sector companies.

CBRE Group Inc. has acquired Geico Lender S.p.A, a building technical engineering services provider in Italy. Gieco Lender will operate as part of CBRE’s Global Workplace Solutions business in Italy and adds specialist technical services capabilities to the integrated suite of services for occupier clients. 

Geico Lender has more than 300 staff members operating in six locations across Italy. The company focuses on providing a broad range of services for the installation of HVAC, building automation and other technological systems for financial institutions and other private sector companies. 

“This acquisition adds extensive and complementary market-leading facilities management expertise to our existing GWS platform. Furthermore, it provides a strong platform from which to continue to build our facilities management capabilities in Italy and across Europe as a vital part of integrated occupier services for our clients,” said Ian Entwisle, CEO of CBRE GWS EMEA, in prepared remarks. “There is a growing trend amongst Italian corporations to outsource technical services and now with the expertise of Geico Lender within CBRE, we are in an even stronger position to deliver exceptional outcomes for our clients.”

This acquisition comes on the heels of CBRE’s integration in the Norland Management Services business in the U.K. in 2013 and the facilities management business of Johnson Controls Inc. in 2015. 

Geico Lender was financially advised by Gianni Panconi and Orazio Bocchieri of EY as and Giuseppe Coco and Dimitri Guarino of Studio Legale Ughi e Nunziante provided legal support.

Image courtesy of Public Domain Pictures