Freshfields and Simpson Thacher advised on CBRE’s acquisition of Onnec Group for £460 million.
CBRE Group, Inc. has entered into a definitive agreement to acquire Onnec Group Limited, a leading provider of data centre infrastructure services for the world’s largest technology companies in Europe and Asia Pacific, for an initial purchase price of £460 million (approximately $610 million), in addition to a potential earnout of up to £300 million (approximately $400 million). The transaction is subject to customary regulatory approvals.
Founded in 1986 and based in London, Onnec specializes in the design, deployment and maintenance of network, fibre and data centre infrastructure. The company’s approximately 800 employees serve hyperscalers across key markets in the United Kingdom, Continental Europe and Asia Pacific. The acquisition will significantly enhance CBRE’s ability to support its clients’ data center needs on a global basis.
Freshfields is advising Onnec Group Limited on its acquisition by CBRE Group, Inc.
The Freshfields team is led by Partner Meredith Bayley, supported by Global Co-Head of Infrastructure Jessamy Gallagher and Senior Associate Charles Wakeford, together with Partners Tom McGrath (antitrust and foreign direct investment), Sam Withnall (tax), David Mendel (employment), Giles Pratt (IP/IT and data) and Martin Hutchings (finance).
Simpson Thacher is advising CBRE Group, Inc. In connection with its definitive agreement to acquire Onnec Group Limited.
The team includes Clare Gaskell, Jewel Zhu, Isabel Lam, Thomas Kannan and Serkan Yavuz (M&A); Étienne Renaudeau, Henry Llewellyn, Luke Cowdell, Jason Wang and Dina Papazoglou (Antitrust); and Cassandra Hamill (Tax).
