CBRE, the world’s largest commercial real estate services and investment firm, has acquired engineering services firm Pearce Services.

Pearce Services is a provider of technical services for digital and power infrastructure. The company was previously owned by New Mountain Capital.

The initial purchase price is approximately $1.2 billion in cash, plus a potential earn-out of up to $115 million, subject to Pearce meeting certain performance thresholds in 2027.

Pearce will operate as part of the Building Operations & Experience segment.

Founded in 1998 and based in California, Pearce provides design engineering, maintenance, and repair services for blue-chip clients in North America. The company has more than 4,000 employees in North America and India.

Pearce’s primary markets are critical power & cooling systems (34 percent of expected 2025 revenue), renewable energy generation & storage (30 percent), wireless & fiber networks (29 percent), and electric vehicle charging networks (seven percent).

In the data center and telecoms segment, the firm offers managed network services, HVAC services, site analysis, and power services.

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

“We are thrilled to join forces with CBRE, whose strategy and culture are highly complementary to ours,” said Michelle Edler, chief executive officer of Pearce. “Together, we will unlock significant growth opportunities across the infrastructure markets we serve and deliver even greater value to our customers.”

For 2026, Pearce is projected to generate more than $660 million of revenue and more than $90 million of EBITDA.

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.

As reported by BisNow, analysts at JPMorgan Chase, said: “Our initial take on this deal is positive as the transaction is strategic, leaning the platform further into areas like data centers and specialized technical services.”

Pearce has previously acquired telecoms engineering firm JoeMax Telecom and UPS maintenance provider Unified Power. In recent years, it has also acquired Natron Resources and MFG Energy Services.