CBRE Group, Inc. Acquires Project And Facilities Management Company In Spain
20 Feb 2020
CBRE Group, Inc. today announced that it has acquired S.A. De Electrificaciones Y Suministros (SADES), a leading project and facilities management company in Spain.
Founded in 1958 and headquartered in Barcelona (Spain), SADES self delivers building engineering services and project and facilities management services to clients across Europe.
SADES will operate as part of CBRE’s Global Workplace Solutions (GWS) business in Spain and adds extensive technical capabilities focused on the maintenance and installation of HVAC, fire protection, mechanical and electrical systems. CBRE has a long-standing relationship with SADES, which has been a service provider to certain CBRE clients in Spain for more than five years.
Vicente Redondo, Managing Director, CBRE GWS Spain & Portugal, said: “SADES has an excellent reputation in the Spanish market and provides us with a strong platform to expand our existing technical capabilities in Spain and across Europe.”
Luis Segarra, Managing Director, SADES“SADES has enjoyed a long, successful relationship with CBRE and we look forward to working together to grow our local facilities management business in Catalunya and provide excellent service to our growing client base.”
Certain of the statements in this release regarding the acquisition of S.A. De Electrificaciones Y Suministros (SADES) 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 Sades with existing capabilities in Spain and Europe 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.