Global Workplace Solutions - Old Name Becomes New Name

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• Global Workplace Solutions - Old Name Becomes New Name

02 September 2015 | Updated 01 January 1970

CBRE's acquisition of Johnson’s Controls’ Global Workplace Solutions has been confirmed (Tues Sept 1) at a cost of about $1.475 billion. GWS had revenue of $3.0 billion in FY 2014. CBRE itself saw revenues of $9.0 billion globally in 2014.

GWS is a provider of integrated facilities management services for major occupiers worldwide and so the completion of the deal extends CBRE’s ability to advise occupier clients in how they lease, own, use and operate real estate.

GWS has strong relationships in the industrial and oil & gas, life sciences, technology and manufacturing sectors, which CBRE believes it can exploit to enhances its own position in the financial services, technology, telecommunications, healthcare and other sectors.

CBRE’s existing Global Corporate Solutions business will adopt the name Global Workplace Solutions with immediate effect.

 “This is a very exciting step for CBRE,” said Bob Sulentic, the company’s president and chief executive officer. “It advances our strategy of delivering the highest quality, globally integrated services to major occupiers and builds our relationships with many of the world’s most prominent corporations. We are helping our clients to enhance their competitive position by aligning every aspect of how they lease, own, use and operate real estate.”

CBRE’s new Global Workplace Solutions business line is led by Bill Concannon (CEO of CBRE’s occupier outsourcing business line prior to the acquisition) and John Murphy (formerly president of Global Workplace Solutions when it was part of Johnson controls).  Mr. Concannon serves as CEO, Global Workplace Solutions, and Mr. Murphy serves as COO, Global Workplace Solutions. In EMEA, the business line will be led by Ian Entwisle as CEO supported by COO Tony Smith and Guy Holden, who joins from JCI as EMEA President of Enterprise Accounts.

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CBRE now manages approximately 5 billion sq. ft. of commercial real estate and corporate facilities around the world, including 2.3 billion sq. ft. in the Americas, 1.3 billion sq. ft. in Europe, the Middle East & Africa, and 1.4 billion sq. ft. in Asia Pacific.

As previously announced. CBRE will provide Johnson Controls with a full suite of integrated corporate real estate services (including facilities management, project management and transaction services) on more than 50 million sq. ft. of real estate. Johnson Controls has joined CBRE’s network of suppliers and partners, and will offer its lowest available commercial-pricing on HVAC, building automation, security, fire and related services to CBRE clients and CBRE-managed properties worldwide. The companies will also jointly fund a building innovation lab which will advance a new generation of workplace solutions to help clients attain their performance goals.

Article written by Brian Shillibeer | Published 02 September 2015

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