CBRE Group has entered into an agreement to acquire a majority interest in the Ramot Group, a leading facilities management provider in Israel.
Based in Tel Aviv, and founded by Shlomo Margolin in 1993, Ramot employs more than 750 staff and manages an extensive portfolio of facilities. The company’s capabilities include technical maintenance, project management, cleaning services, reception administration and environmental health and safety.
The Ramot Group will operate as part of CBRE’s Global Workplace Solutions (GWS) (occupier outsourcing) business in Israel and adds an extensive suite of integrated facilities management and specialist technical capabilities for local and international clients. CBRE has a long-established relationship with Ramot, which has been a service provider to some of its corporate clients in Israel since 2009.
Ian Entwisle, Chief Executive Officer, GWS EMEA at CBRE, said: “This acquisition adds extensive and complementary market-leading facilities management expertise to our existing GWS capabilities as part of our integrated service offer for our occupier clients. The Ramot team is highly regarded in the market and we are now in an even stronger position to deliver exceptional outcomes for our clients and to continue building a world-class offering in the region.”
The Ramot acquisition follows CBRE’s April 2018 purchase of its long-standing affiliate partner in Israel MAN Properties, which provides capital markets and leasing services to occupiers and investors in the office, technology and retail sectors.
The acquisition is subject to customary regulatory approvals and is expected to close in the third quarter of 2018.
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