×

Get the Best GovCon News Straight to your Inbox

Member News

CBRE Group to Acquire J&J Worldwide Services in Deal Worth Up to $1.05B

Facility support business

CBRE Group to Acquire J&J Worldwide Services in Deal Worth Up to $1.05B

Washington, D.C.-based private investment firm Arlington Capital Partners has announced that it will sell J&J Worldwide Services to CBRE Group for up to $1.05 billion, including $800 million in upfront cash and and additional $250 million depending on performance thresholds.

Headquartered in Franklin, Tennessee, J&J offers preventative maintenance support for federal government and health care facilities, Arlington Capital said.

J&J’s portfolio includes facility management and integrated asset management for Department of Defense hospitals and bases.

Michael Lustbader, an Arlington managing partner, said J&J “achieved significant organic growth” through large facility support contracts with the United States. He added that CBRE’s real estate industry leadership positions it to support J&J’s continued expansion.

According to J&J CEO Steve Kelley, a 4×24 member, his company increased its global reach in the last four years with guidance from Arlington.

News of the sale follows a string of new awards for J&J, including a subcontractor position on small business Titan-Auxo’s Integrated Critical Staffing Program contract with the Veterans Health Administration.

In December, J&J secured a four-year U.S. Army Corps of Engineers contract to provide operations and maintenance support to the Alexander T. Augusta Military Medical Center.

GovCon Wire Logo

Sign Up Now! Potomac Officers Club provides you with Daily Updates and News Briefings about Member News

Category: Member News

Tags: acquisition Arlington Capital Partners CBRE Group J&J Worldwide Services Member News Michael Lustbader Steve Kelley