M&A Deal Summary

CBRE Acquires Full Spectrum Group

On November 9, 2022, CBRE acquired business services company Full Spectrum Group from Pfingsten Partners for 110M USD

Acquisition Highlights
  • This is CBRE’s 15th transaction in the Business Services sector.
  • This is CBRE’s 8th largest (disclosed) transaction.
  • This is CBRE’s 27th transaction in the United States.
  • This is CBRE’s 4th transaction in California.

M&A Deal Summary
Date 2022-11-09
Target Full Spectrum Group
Sector Business Services
Buyer(s) CBRE
Sellers(s) Pfingsten Partners
Deal Type Add-on Acquisition
Deal Value 110M USD

Target

Full Spectrum Group

Laguna Hills, California, United States
Full Spectrum Group is an agnostic service provider for laboratory instruments, offering a full range of service contracts, preventative maintenance programs, calibration and validation, repair services, parts, and reconditioned instruments. Full Spectrum Group was founded in 1992 and is based in Pleasanton, California.

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Buyer(S) 1

Buyer

CBRE

Dallas, Texas, United States
Category Company
Founded 1906
Sector Real Estate
Employees130,000
Revenue 31.9B USD (2023)
DESCRIPTION
CBRE Group's corporate headquarters in downtown Los Angeles, California.
CBRE Group's corporate headquarters in downtown Los Angeles, California.

CBRE is a commercial real estate services and investment firm. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. CBRE was incorporated in 1906 and is based in Dallas, Texas.

DEAL STATS #
Overall 45 of 47
Sector (Business Services) 15 of 16
Type (Add-on Acquisition) 39 of 41
State (California) 4 of 5
Country (United States) 27 of 29
Year (2022) 1 of 1
Size (of disclosed) 8 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-27 Turner and Townsend

Leeds, United Kingdom

Turner and Townsend is an independent professional services company specializing in program management, project management, cost and commercial management, and advisory services across the real estate, infrastructure, and natural resources sectors. Turner and Townsend was founded in 1946 and is based in Leeds, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-05 J&J Worldwide Services

Franklin, Tennessee, United States

J&J Worldwide Services (J&J) provides facility services to the United States Federal Government and civilian customers through its Healthcare & Medical Solutions, Mission Support Solutions, and Engineering Solutions business segments. The company has developed a comprehensive portfolio of aseptic cleaning and maintenance services for military hospitals and clinics as well as a wide array of facility management, operational support, and integrated asset management services for Department of Defense (DoD) military bases. J&J Worldwide Services is based in Franklin, Tennessee.

Buy $800M

Seller(S) 1

SELLER

Pfingsten Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION
Pfingsten's office building at 300 North LaSalle in Chicago.
Pfingsten's office building at 300 North LaSalle in Chicago.

Pfingsten Partners is a private equity firm focused on investments in niche manufacturing, distribution, and business services companies. The Firm targets platform companies headquartered in the US although add-on acquisitions can be located outside the US. Prospective companies typically have revenues of $20 to $150 million and EBITDA of $3 to $12 million. Transaction types include private companies undergoing an ownership transition, corporate divestitures, strategic add-ons, and turnarounds. Pfingsten only invests in situations allowing for control. Pfingsten will not invest in real estate, natural resources, highly regulated businesses, retail, restaurants, early-stage companies, or technology. Pfingsten Partners was formed in 1989 and is based in Chicago, Illinois.

DEAL STATS #
Overall 38 of 40
Sector (Business Services) 5 of 5
Type (Add-on Acquisition) 16 of 16
State (California) 2 of 2
Country (United States) 38 of 40
Year (2022) 3 of 4
Size (of disclosed) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-07 Fowler High Precision

Canton, Massachusetts, United States

Fowler High Precision is a manufacturer of an inspection, control and calibration equipment. Fowler High Precision was founded in 1946 and is based in Canton, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-08 Quality Valve

Mobile, Alabama, United States

Quality Valve is a distributor of OEM replacement parts for safety and relief valves repair companies. The company utilizes its significant product knowledge, industry-leading selection of parts and quick-turn capabilities to help customers react to valve repairs and ensure safety for end-users around world. Quality Valve was founded in 1994 and is based in Mobile, Alabama.

Sell -
Mergr

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