CBRE Group, Inc. has acquired Pearce Services LLC from New Mountain Capital for an initial purchase price of approximately $1.2 billion in cash plus a potential earn-out of up to $115 million, subject to Pearce meeting certain performance thresholds in 2027.
Sullivan & Cromwell advised the CBRE Group on this transaction.
Khaitan & Co advised CBRE Group on the India aspect of this acquisition. The firm assisted Sullivan & Cromwell with respect to the due diligence, review of transaction documentation, regulatory advisory, and overall transaction advisory.
The core team consisted of Rabindra Jhunjhunwala (Partner), Ayush Nanda (Counsel), Arun Kumar (Senior Associate) and Alivya Sahay (Associate) with assistance from the following:
Regulatory aspects: Moin Ladha (Partner);
Employment aspects: Deepak Kumar (Partner) and Archika Dudhwewala (Principal Associate);
Antitrust aspects: Anisha Chand (Partner), Yatharth V Singh (Senior Associate) and Aujaswi Maken (Associate);
Intellectual Property aspects: Sourav Dan (Counsel) and Vaishali Adhikari (Associate).
Ropes & Gray advised Pearce Services and New Mountain Capital on this transaction.
This transaction team included private equity partners Todd B. Kornreich and Carl Marcellino, finance partner Stefanie Birkmann, tax partner Alyssa Kollmeyer, executive compensation & employee benefits partner Danna Kivell and counsel Sean Smith and Jenny Cooper, IP transactions partner Jordan Altman, environmental partner Peter Alpert, litigation & enforcement partner Jonathan Klarfeld and counsel Heather Sprague and Kurt Fowler, data privacy partner Fran Faircloth, and private equity associate Brian Durkin.
Pearce Services LLC is a leading provider of advanced technical services for digital and power infrastructure.
With more than 140,000 professionals in over 100 countries, CBRE is the global leader in commercial real estate services and investment.
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