CBRE Group, Inc. (NYSE:CBG) today announced that it has entered into a definitive agreement to acquire VALTEQ Gesellschaft mbH and its subsidiaries (“VALTEQ”). VALTEQ, which was founded by its current owners, Dr. Thomas Herr, Dr. Gabriele Lüft and Jürgen Scheins, is a leading technical real estate consulting firm in Germany.
VALTEQ specializes in technical and environmental due diligence for commercial real estate. It also provides technical asset management, project management and facilities management services and has a key focus on creating economically-feasible sustainability solutions. Upon closing of the acquisition, VALTEQ will become a fully integrated part of CBRE’s Building Consultancy group in Germany and across Europe.
VALTEQ’s clients include leading real estate investors and major occupiers, notably in the financial industry. Its team of approximately 60 professionals includes civil engineers, architects, economists, geologists and service technicians who operate out of five offices throughout Germany: Berlin, Stuttgart, Frankfurt, Munich and Nuremberg.
Michael Strong, CBRE’s Executive Chairman of Europe, Middle East and Africa, said:
“We are committed to providing our clients with the broadest range of property services possible. VALTEQ will give us a new service proposition in Germany that complements our existing offering in that country as well as in our EMEA building consultancy business as a whole. We will also be looking to bring VALTEQ’s best-in-class services to all of our clients across Europe in the very near future.”
Peter Schreppel, Chief Executive of CBRE Germany, added:
“We are delighted with the VALTEQ acquisition, which will diversify and expand our service offering in Germany. We know the VALTEQ team well and have worked with them on numerous projects over the last few years. They are similar to us both culturally and operationally; their clients come first, and they are passionate about providing high quality, bespoke and best-value solutions. We look forward to welcoming the VALTEQ team to CBRE.”
Dr. Thomas Herr, Chief Executive of VALTEQ, commented:
“By joining CBRE, we will become part of a market-leading building consultancy and project management team with over 2,700 specialists worldwide. Combined with the expertise of other CBRE divisions, this creates a fantastic opportunity for both our clients and our colleagues. We are positioned to deliver integrated services to clients across the region and also address a requirement that is not yet fulfilled in the German market.”
The acquisition is expected to close before the end of the first quarter of 2014 and is subject to German regulatory approval.
VALTEQ is a technical and economic consulting firm serving firms in the financial, real estate, design and construction industries. VALTEQ employs a team of approximately 60 civil engineers, architects, economists, geologists and service technicians, many of whom also have additional real estate-related qualifications.
VALTEQ’s service offering focuses on the review, management and provision of advisory services for companies and projects. Finding sustainable and economically-feasible technical solutions is at the core of its activity. Its services portfolio includes technical and environmental due diligence, environmental compliance, “green building” certification, project management and monitoring and technical asset management, as well as advisory services in the fields of facilities management, project development, energy and contracting, corporate real estate, public-private partnerships and sustainability.
VALTEQ has offices in Berlin, Stuttgart, Frankfurt, Munich and Nuremberg.
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 (in terms of 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
“Safe Harbor” Statement Under the U.S. Private Securities Litigation Reform Act of 1995
Certain of the statements in this release regarding the acquisition of VALTEQ that do not concern purely historical data are forward-looking statements within the meaning of the ''safe harbor'' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties, including, but not limited to, the ability of the parties to secure regulatory approval from the German government to close the transaction, and upon closing, to successfully integrate the VALTEQ operations with CBRE’s existing building consulting service in Germany and across EMEA, as well as other risks and uncertainties discussed in CBRE’s filings with the U.S. Securities and Exchange Commission (SEC). Any forward-looking statements speak only as of the date of this release and, except to the extent required by applicable securities laws, CBRE expressly disclaims any obligation to update or revise any of them to reflect actual results, any changes in expectations or any change in events. If CBRE does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements. For additional information concerning factors that may cause actual results to differ from those anticipated in the forward-looking statements, and risks to CBRE’s business in general, please refer to the Company’s SEC filings, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2012 and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2013. Such filings are available publicly and may be obtained off the Company's website at www.cbre.com or upon request from the CBRE Investor Relations Department at email@example.com.