CBRE Group to acquire Pearce Services from New Mountain Capital for $1.2bn.

CBRE Group, a commercial real estate services and investment firm, agreed to acquire Pearce Services, a technology-enabled provider of asset management solutions, from New Mountain Capital, an alternative investment firm, for $1.2bn. “This acquisition complements our large and growing presence in digital and power infrastructure. It also opens sizable new growth avenues for CBRE in markets where the need for Pearce’s services is growing rapidly,” Bob Sulentic, CBRE chair and chief executive officer.