CBRE Group, Inc. (NYSE: CBG) today announced it has completed its previously-announced acquisition of Heery International, Inc. (Heery), the project management and design engineering business of the international infrastructure group, Balfour Beatty LLC.
Heery, based in Atlanta, is a leader in providing project management, design and commissioning services across the U.S., with a wide range of corporate, government, healthcare, sports, aviation and education clients.
“This acquisition advances our strategy to grow our project management expertise and capabilities. Heery has a strong track record of client service with many longstanding relationships spanning decades,“ said Mike Lafitte, CBRE’s Global Group President, Lines of Business. “Their deep project management expertise and strong leadership team are a great complement to CBRE’s existing capabilities in both our local market and account-based project management services.”
“We are particularly excited about Heery’s ability to deepen our relationships in the public and educational sectors, grow our position in such new vertical segments as aviation and sports, and add capabilities and expertise in design engineering services,” he added.
Heery will continue to be led by senior executives Ted Sak and Glenn Jardine. Heery’s professionals will collaborate closely with CBRE’s project management teams who deliver services in local markets across the U.S. as well as its professionals who execute account-based project management programs through its occupier outsourcing business line, Global Workplace Solutions.
“We believe our expertise is a great fit with CBRE’s focus on delivering comprehensive, fully integrated commercial real estate solutions,” said Mr. Jardine. “We look forward to working with our new CBRE colleagues across the country to provide these solutions to a broader range of corporate and institutional clients than ever before and achieving further growth in our core markets.”
Founded in 1952, Heery has approximately 535 employees in 19 U.S. offices, providing services including project management, architecture, engineering, interior design, and commissioning.
CBRE maintains the largest network of professional commercial real estate project managers worldwide. Its more than 5,000 specialists, including 350+ LEED-certified professionals, oversaw projects with a total contract value of more than $42 billion worldwide in 2016.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.