The chief executive of CBRE has said the agency will make “significant use of capital” to continue growing through mergers and acquisitions.
The agency, which this month agreed to buy UK retail firm CWM, has been busy with dealmaking over the past year, taking a stake in property manager Turner & Townsend and backing flex office operator Industrious, to which it spun out its own Hana business.
Asked about the outlook for further deals on an analyst call to discuss CBRE’s full-year results, chief executive Bob Sulentic said the agency would continue to look for “infill M&A” as well as deals that are “more transformational”.
“We also have our eye on a number of what we call sponsorship opportunities that would be consistent with what we did with Turner & Townsend or Industrious, where we think we can buy a portion of a company, have them help us in the way we serve our clients and help them supercharge their growth in the way we bring them into our orbit, so to speak, to serve the clients we have,” he said.
Sulentic added: “All of those things are part of our M&A strategy. It’s broad. It comes to small deals and large deals, and you should expect to see significant use of capital going forward to further grow the business through M&A.”
See how CBRE compares with other agents in EG’s On-Demand Rankings >>
To send feedback, e-mail tim.burke@eg.co.uk or tweet @_tim_burke or @EGPropertyNews
