CBRE Group, Inc. Acquires Facilities Management and Technical Engineering Services Company in Milan
08 Jan 2020
CBRE Group, Inc. today announced the acquisition of CO.VE.RI (Coveri), a leading facilities management and technical engineering services company based in Milan, Italy.
Founded in 1982, Coveri self delivers facilities management and technical engineering services for local and global clients.
Coveri‘s team will be integrated into CBRE’s Global Workplace Solutions business in Italy. CBRE has a long-established relationship with Coveri, which has provided technical engineering services to certain CBRE corporate clients for over 10 years.
Ian Entwisle, CEO of CBRE GWS APAC/EMEA, said: “This acquisition adds extensive and complementary technical engineering services expertise to our existing capabilities. We are now in a stronger position to deliver exceptional outcomes for our clients and to continue building a world-class offering across Europe.”
This acquisition follows CBRE’s purchase in 2017 of Geico Lender (now GWS Technical Division), a nationwide Technical Maintenance and Engineering provider.
Certain of the statements in this release regarding the acquisition of CO.VE.RI (Coveri) 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 fully integrate Coveri with existing capabilities in Italy 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, 2018 and Form 10-Q for the quarter ended September 30, 2019. 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 protected]
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 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of 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.