UK: Facilities management group CBRE has acquired Geico Lender SpA, an Italian HVAC service and maintenance company.
Founded in 1989, with headquarters in Pescara, Geico Lender employs more than 300 staff operating from six locations across Italy. The company provides a broad range of services focused on the maintenance and installation of HVAC, building automation and other technological systems for financial institutions and other private sector companies.
Geico Lender will now operate as part of CBRE’s Global Workplace Solutions (GWS) business in Italy.
“There is a growing trend amongst Italian corporations to outsource technical services and now with the expertise of Geico Lender within CBRE, we are in an even stronger position to deliver exceptional outcomes for our clients,” said Ian Entwisle, CEO, GWS EMEA at CBRE.
CBRE says that the Geico Lender acquisition complements the integration of both the Norland Managed Services business in the UK, acquired by CBRE in December 2013, and the facilities management business of Johnson Controls Incorporated, acquired by CBRE in September 2015, which added significant resources and capabilities in continental Europe.