CBRE Group, Inc. Enters into Agreement to Acquire Technical Services Provider Intego A/S in Denmark
27 Apr 2021
CBRE Group, Inc. today announced that it has entered into a definitive agreement to acquire Intego A/S, a leading technical facility services provider in Denmark.
Founded in 2007 and headquartered in Aalborg, northern Denmark, Intego A/S employs more than 850 employees in 16 locations, self-performing hard facilities management technical services across numerous sectors with particular expertise in electrical, automation and mechanical solutions.
When the transaction is completed, Intego A/S will operate as part of CBRE’s existing Global Workplace Solutions (GWS) business in Denmark, adding an extensive suite of integrated facilities management and specialist technical capabilities for local and international clients. CBRE has a long-established relationship with Intego A/S, which has served some of its corporate clients in Denmark for many years.
Michael Rusborg, Managing Director, GWS Denmark & Norway at CBRE, said: “The Intego A/S team is highly regarded in the market. Through this acquisition, we expect to expand our local technical capabilities and deliver consistent, repeatable solutions for our clients, as we build a world-class offering in Denmark and across the region.”
"We have enjoyed a successful relationship with CBRE, and look forward to this next chapter together. With CBRE’s global scale and service offering, we have the right partner to grow our business and provide the best possible outcomes for our clients," said Jens Frost Mikkelsen, one of Intego A/S’s founders.
The Intego A/S acquisition is subject to customary regulatory approvals and is expected to close in the second quarter of 2021.
Intego A/S traces its roots back to the more than 100-year-old electromechanical factory, Thomas Pedersen. In 1995, Thomas Pedersen was acquired by Siemens, which in 2005 became part of Glenco. It is based on that company Intego was founded in 2007. Since then, Intego A/S has become one of Denmark's preferred technical service partners with more than 850 employees with competencies within electrical engineering, mechanics and automation. There is still a focus on the mechanical area, but unlike before, the nationwide set-up is characterized by a breadth of expertise that includes several service lines.
Certain of the statements in this release regarding the agreement to acquire Intego A/S 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. Forward-looking statements are made based on our management’s expectations and beliefs concerning future events affecting us and are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Accordingly, actual performance, results and events may vary materially from those indicated in forward-looking statements, and you should not rely on forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in forward-looking statements, including, but not limited to, our ability to complete the acquisition of Intego A/S and integrate the acquired business into our existing Global Workplace Solutions operations in Denmark, Europe and globally, as well as other risks and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (SEC). Any forward-looking statements speak only as of the date of this release. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws. If we do update one or more forward-looking statements, no inference should be drawn that we 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 other risks and uncertainties to our business in general, please refer to our SEC filings, including our Form 10-K for the fiscal year ended December 31, 2020. Such filings are available publicly and may be obtained from our website at www.cbre.com or upon request from the CBRE Investor Relations Department at [email protected].
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of 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.