Commercial real estate services and investment firm CBRE Group Inc. acquired FacilitySource LLC from private equity firm Warburg Pincus & Co. for about $290 million in cash.
FacilitySource provides technology-based procurement and facilities management solutions, and brings with it a proprietary software-as-a-service platform, roughly 550 professionals, more than 25,000 qualified service providers, a vendor development program and an operations support center.
CBRE said the acquisition will enable it to build a supply chain capability that is unique in the occupier outsourcing industry.
