CBRE may buy Johnson Controls workplace solutions business

Glendale-based Johnson Controls Inc. may be in talks to sell its Global Workplace Solutions arm to major global commercial real estate services firm CBRE Group Inc. for more than $1 billion.

According to a Reuters report that cites unnamed people “familiar with the matter,” CBRE won out against several private equity firms in an auction, and is now negotiating the acquisition of the segment, which offers facilities and energy management for more than 1.8 billion square feet of corporate real estate.

Johnson Controls last year announced it would be divesting Workplace Solutions because it doesn’t fit in with the company’s core operations.

- Advertisement -

Representatives at both companies called the report speculative.

“There’s really nothing I can say at this point,” said Fraser Engerman, spokesperson for Johnson Controls. “We’re still in the process of divesting the business, and we have no comment at this time.”

“There was a news report to that effect, but there’s been nothing put out by us,” said Robert McGrath, spokesperson for CBRE. “We don’t comment on market rumors and speculation.”

Sign up for the BizTimes email newsletter

Stay up-to-date on the people, companies and issues that impact business in Milwaukee and Southeast Wisconsin

What's New

BizPeople

Sponsored Content

BIZEXPO | EARLY BIRD PRICING | REGISTER BY APRIL 15TH & SAVE

Stay up-to-date with our free email newsletter

Keep up with the issues, companies and people that matter most to business in the Milwaukee metro area.

By subscribing you agree to our privacy policy.

No, thank you.
BizTimes Milwaukee