by Brianna Crandall — October 11, 2017 — Global commercial real estate (CRE) services and investment firm CBRE Group just announced a definitive agreement to acquire Heery International, the project management and design engineering business of the international infrastructure group Balfour Beatty.
Heery, based in Atlanta, provides project management, design and commissioning services across the United States, with a wide range of corporate, government, healthcare, sports, aviation and education clients.
Mike Lafitte, CBRE’s global group president, Lines of Business, stated:
This acquisition advances our strategy to grow our project management expertise and capabilities. Heery has a strong track record of client service with many longstanding relationships spanning decades. Their deep project management expertise and strong leadership team are a great complement to CBRE’s existing capabilities in both our local market and account-based project management services.
We are particularly excited about Heery’s ability to deepen our relationships in the public and educational sectors, grow our position in such new vertical segments as aviation and sports, and add capabilities and expertise in design engineering services.
Upon closing of the acquisition, Heery will continue to be led by its President Theodore Sak and its COO Glenn Jardine. Heery’s professionals will collaborate closely with CBRE’s project management teams who deliver services in local markets across the USA as well as its professionals who execute account-based project management programs through its corporate outsourcing business line, Global Workplace Solutions.
Heery COO Glenn Jardine added:
We believe our expertise is a great fit with CBRE’s focus on delivering comprehensive, fully integrated commercial real estate solutions. We look forward to working with our new CBRE colleagues across the country to provide these solutions to a broader range of corporate and institutional clients than ever before and achieving further growth in our core markets.
Founded in 1952, Heery has approximately 535 employees in 19 U.S. offices, providing services including project management, architecture, engineering, interior design, and commissioning.
CBRE Group’s more than 75,000 employees serve real estate investors and occupiers through approximately 450 offices worldwide, providing 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. The firm maintains a network of more than 5,100 professional CRE project managers worldwide, including 350+ LEED-certified professionals.