CBRE has completed its acquisition of J&J Worldwide Services, a prominent provider of engineering services, base support operations, and facilities maintenance for the U.S. federal government.
The acquisition, valued at $800 million in cash with a potential earn-out of up to $250 million payable in 2027, aligns with CBRE’s strategic focus on enhancing technical services capabilities, fostering revenue resilience and growth, and expanding the government client base within its Global Workplace Solutions segment.
J&J Worldwide Services specializes in serving the U.S. Department of Defense through long-term, fixed-price contracts, boasting a workforce of over 3,300 individuals globally. The company’s extensive reach encompasses more than 250 hospitals, clinics, and military installations across the United States, Europe, Asia, the Caribbean, and the Middle East. Notable facilities served by J&J include Brooke Army Medical Center, Walter Reed National Military Medical Center, and the United States Naval Academy.
Bob Sulentic, Chair & Chief Executive Officer of CBRE, expressed the strategic significance of the acquisition, stating, “We are adding a company with deep government contracting experience, long-term customer relationships, and a 50-year record of outstanding technical service delivery. This move is consistent with key elements of our M&A strategy to enhance our technical services capabilities and broaden our government client base, ultimately contributing to the growth and resilience of our overall revenue.”
