LOS ANGELES--(BUSINESS WIRE)--Jun. 20, 2018--
CBRE Group, Inc. (NYSE:CBRE) today announced that it has entered into an
agreement to acquire a majority interest in the Ramot Group (Ramot), a
leading facilities management provider in Israel.
Founded by Shlomo Margolin in 1993, Ramot, based in Tel Aviv, employs
more than 750 staff and manages an extensive portfolio of facilities.
Ramot’s substantial 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.
This 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. CBRE’s newly expanded presence in
the Israeli market will provide it with an extensive suite of services
and the ability to serve occupier and investor clients’ needs at every
stage of the property life cycle.
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.”
Harry Lipschitz, one of the Founders of Ramot, said: “Ramot has enjoyed
a long and successful relationship with CBRE over many years and has
been an important part of CBRE’s service delivery in the region. This
transaction will allow us to bring world-class, fully-integrated
services and technological advantages to our Israeli and international
The Ramot acquisition is subject to customary regulatory approvals and
is expected to close in the third quarter of 2018.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company
headquartered in Los Angeles, is the world’s largest commercial real
estate services and investment firm (based on 2017 revenue). The company
has more than 80,000 employees (excluding affiliates), and serves real
estate investors and occupiers through approximately 450 offices
(excluding affiliates) worldwide. CBRE offers a broad range of
integrated services, including facilities, transaction and project
management; property management; investment management; appraisal and
valuation; property leasing; strategic consulting; property sales;
mortgage services and development services. Please visit our website at www.cbre.com.
Certain of the statements in this release regarding the acquisition of
Ramot Group that do not concern purely historical data are
forward-looking statements within the meaning of the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements are made based on our management’s
expectations and beliefs concerning future events affecting us and are
subject to uncertainties and factors relating to our operations and
business environment, all of which are difficult to predict and many of
which are beyond our control. Accordingly, actual performance, results
and events may vary materially from those indicated in forward-looking
statements, and you should not rely on forward-looking statements as
predictions of future performance, results or events. Numerous factors
could cause actual future performance, results and events to differ
materially from those indicated in forward-looking statements,
including, but not limited to, our ability to successfully integrate
Ramot with our existing operations in Israel and our facilities
management services across EMEA and around the world, as well as other
risks and uncertainties discussed in our filings with the U.S.
Securities and Exchange Commission (SEC). Any forward-looking statements
speak only as of the date of this release. We assume no obligation to
update forward-looking statements to reflect actual results, changes in
assumptions or changes in other factors affecting forward-looking
information, except to the extent required by applicable securities
laws. If we do update one or more forward-looking statements, no
inference should be drawn that we will make additional updates with
respect to those or other forward-looking statements. For additional
information concerning factors that may cause actual results to differ
from those anticipated in the forward-looking statements and other risks
and uncertainties to our business in general, please refer to our SEC
filings, including our Form 10-K for the fiscal year ended December 31,
2017 and our Form 10-Q for the period ended March 31, 2018. Such filings
are available publicly and may be obtained from our website at www.cbre.com
or upon request from the CBRE Investor Relations Department at email@example.com.
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Source: CBRE Group, Inc.
CBRE Group, Inc.