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CBRE AND EXCELLERATE ANNOUNCE PLANS FOR AFRICA AND MIDDLE EAST JOINT VENTURE

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Los Angeles, December 6, 2018 – CBRE Group, Inc. (NYSE:CBRE) today announced that it has agreed to form a joint venture with Excellerate Property Services (Excellerate) to meet the growing demand for high-quality real estate services in Africa and the Middle East.

The joint venture, CBRE Excellerate, will merge CBRE’s facilities management operations in Africa and the Middle East with several of Excellerate’s businesses, including corporate real estate services, facilities management, valuation and project management services as well as property management services outside of South Africa.

Templewood Services, a leading services company supplying cleaning, hygiene, washroom and security services to blue chip clients across the UK, today announced the acquisition of LCC Support Services, one of the UK’s largest independently owned national contract cleaning specialists.

The acquisition brings together two big names in the industry - Harvey Soning, Chairman of Templewood Services and Bob Vincent, who will become Non-Executive Chairman of LCC. Both Harvey and Bob will continue to be actively involved in the business for the foreseeable future.

The acquisition combines two businesses who together have a combined turnover of GBP40million and employ approximately 3000 colleagues, across the United Kingdom supplying specialist soft-FM services into over 800 clients and at more than 1000 separate locations in England, Scotland, Wales and Northern Ireland.

Templewood Services was founded in 2000 by Harvey Soning and in June 2017, Excellerate Services, a major African property services company operating extensively across sub-Saharan territories and with its head office in Johannesburg, South Africa - acquired a majority stake in Templewood Services. Since that acquisition Templewood has focused on implementing Excellerate’s technology platforms, as well as integrating extensive Intellectual Property, in order to deliver a more improved, transparent and efficient service to its clients. Founded in 1997 by Bob Vincent, LCC has flourished over the past 21 years to stand now as one of the fastest growing single-service specialists in the FM sector.

Merging its UK operations will provide a substantial foundation for growth, as well as a unique opportunity to harness multiple best practices & industry-leading innovation, as the enlarged Company builds upon its significant strength in FM-partnering and its valued client base in the corporate built environment, high-end retail, property management, education and manufacturing sectors.

Commenting, Harvey Soning, Chairman of Templewood Services, said:

Having known of Bob’s reputation in the industry for many years I was delighted when the suggestion was made to merge our businesses to provide an even better service to all our major clients throughout the UK. Our relationship has grown very strong through the negotiations which I know will benefit both of us and our new parent Excellerate in the future.”

Commenting, Bob Vincent, Chairman of LCC Support Service, said:

I am very pleased with the acquisition. Templewood Services has a similar ethos and business ethic to what I have strived for over the past 21 years, and as such was a perfect fit. I look forward to being involved in the business going forward.”

Commenting, Gordon Hulley, CEO of Excellerate, said:

I am extremely pleased with the LCC transaction. Their reputation for quality services and highly skilled staff under the leadership of Bob Vincent compliments our initial acquisition of Templewood. Furthermore, the transaction strengthens our positioning in the UK, and provides the ideal platform for further organic and acquisitive growth.”

Commenting, Mark Carter, COO of Templewood Services, said:

We are very excited about the acquisition as LCC is a well-known and respected name in the industry and brings with it a wealth of experience in terms of its management and support teams. The acquisition strengthens our footprint across the UK. Our intention is to continue to run business as normal for the foreseeable future whilst bringing our technology platforms into LCC to enhance service delivery.”

For further information contact:

UK:

  • Harvey Soning : This email address is being protected from spambots. You need JavaScript enabled to view it.
  • Bob Vincent : This email address is being protected from spambots. You need JavaScript enabled to view it.
  • Mark Carter : This email address is being protected from spambots. You need JavaScript enabled to view it.

 

South Africa:

  • Gordon Hulley: This email address is being protected from spambots. You need JavaScript enabled to view it.

About Excellerate

Excellerate, currently operates across 14 countries throughout Africa and the UAE. It employs approximately 24,000 people and provides integrated services such as security, cleaning, hygiene and pest control, and precinct management. Its client base includes multinational corporates, public sector organisations, developers, funds, institutions and private investors.

About Templewood Services

Templewood, founded in 2000, provides a range of services such as cleaning and security to a host of blue chip organisations, in the retail, commercial and residential sectors. Templewood also provides Emergency Response Officer accredited training to manage incidents such as major terrorist attacks, aimed at those working in the securities industry and in organisations that cater for large public gatherings.

About LCC

LCC Support Services Ltd is a national contract cleaning specialist with its headquarters in Brentwood, Essex. It employs approximately 2000 people and provides a range of cleaning-led, integrated soft-FM solutions to a wide range of corporate, retail, education, light industrial and manufacturing organisations.

 


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