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Tuesday, 19 November

CBRE GWS Buys Lender

CBRE Group has acquired Geico Lender, a building technical engineering services provider in Italy.

Geico Lender will operate as part of CBRE’s Global Workplace Solutions (GWS) business in Italy. It adds specialist technical services capabilities to the integrated suite of services for occupier clients throughout the country. 

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

Ian Entwisle, CEO of CBRE  GWS EMEA, said: “This acquisition adds extensive 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. 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.”

Clemente Cilli, CEO and Founder of Geico Lender, said: “CBRE’s global footprint and broad occupier service offering is a critical factor which will enable us to deliver more advantages to our clients.”

The Geico Lender acquisition complements the integration of both the Norland Managed Services business in the United Kingdom, acquired by CBRE in December 2013, and the facilities management business of Johnson Controls Incorporated, acquired by CBRE in September 2015, which added significant resources and capabilities in continental Europe.

Picture: Ian Entwisle, CEO of CBRE  

Article written by Brian Shillibeer

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