CBRE Group Inc. acquires Pearce Services, LLC
Canadian counsel New Mountain Capital on the acquisition of Pearce Services, LLC.
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On November 4 2025, CBRE Group Inc. announced that they have acquired Pearce Services LLC. The initial purchase price is approximately $1.2 billion in cash plus a potential earn-out of up to $115 million, subject to Pearce meeting certain performance thresholds in 2027.
J.P. Morgan Securities, LLC and Wells Fargo are acting as financial advisors and Sullivan & Cromwell LLP as legal advisor to CBRE. Ropes & Gray LLP is acting as legal advisor to Pearce and New Mountain Capital.
Founded in 1998 and based in Paso Robles, CA, Pearce provides design engineering, maintenance, and repair services for blue-chip clients in North America that depend on it to optimize asset uptime and output.
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 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries.
Miller Thomson acted as Canadian counsel for New Mountain Capital with a team led by Michael Caruso and comprised of Sarah Langille, Devin Persaud, Jayme Millar, Raquel Moses, Sandra Wright (Corporate/M&A), Eric Dufour (Competition), Barry Horne, Daniel L Kiselbach, Thomas Ghag (Tax), Michelle MacGillivray (Labour and Employment), Tamara Farber (Environment), Ciaron Czajkowski (Transactions and Leasing), Megan Kocher and Brian Spencer (Paraprofessionals).