A UK-based datacentre infrastructure provider that builds and maintains kit for major tech firms has been snapped up for up to $1bn.
Ranking 31st in Oxygen 250 2026, London-based Cisco, HPE, Fortinet and Commscope partner Onnec is selling up to US-based real estate and investment services giant CBRE Group.
Built on four brands in the form of Excel, Redstone, Kedington and Load Services, Onnec specialises in the design, deployment and maintenance of network, fibre and datacentre infrastructure.
CBRE said it “long believed” Onnec is an “excellent” fit for its strategy, saying the dal will boost its ability to support its clients’ global datacentre needs.
Onnec generated an adjusted EBITDA of £21.9m on revenue that boomed 41% to £193m in calendar 2025, its most recently filed accounts show.
But CBRE said it expects the acquired business to log £50m of core EBITDA on revenues of £370m by 2027.
“CBRE is pursuing an explicit strategy to build a global infrastructure services business to complement our real estate services business. We’ve long believed Onnec is an excellent fit in this strategy,” stated CBRE COO Vikram Kohli.
“The acquisition is also consistent with our ongoing effort to build resilient businesses that benefit from secular tailwinds.”
To land Onnec – which counts hyperscalers and global financial services firms among its clientele – CBRE is ponying up an initial £460m in cash plus a multi-year earnout of up to £300m.
Subject to customary regulatory approvals, the deal is expected to be completed around the end of the year.
