CBRE Group, the international commercial real estate services and investment firm, is further increasing its presence in Europe by committing to buy another property and facilities management firm Valteq Gesellschaft mbH and its subsidiaries (Valteq).
CBRE has only recently (December 2013) closed a £250 million deal to buy UK-based, facilities management firm, Norland Managed Services Ltd (Norland), for its commercial building technical engineering expertise.
The firm yesterday announced this additional deal to buy Valteq – a leading technical real estate consulting firm in Germany.
Valteq specialises in technical and environmental due diligence for commercial real estate. It also provides technical asset management, project management and facilities management consulting 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.”
Valteq was founded by its current owners, Dr. Thomas Herr, Dr. Gabriele Lüft and Jürgen Scheins. 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.