Corporate/Finance: Page 4
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Sodexo mulls acquisition of food service competitor Aramark
The potential deal, which has reportedly been brewing for months, could provide Sodexo with a strong growth engine but would require significant funding and could face antitrust scrutiny, Bloomberg reported.
By Joe Burns • Sept. 27, 2024 -
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Fed rate cut will trigger slow rise in real estate investment ‘tide,’ CBRE chief economist says
Looking ahead, CBRE expects the economy will avert a recession and that its “soft landing” will boost tenants’ confidence and support demand for space across property types.
By Maura Webber Sadovi • Sept. 27, 2024 -
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BlackRock, Microsoft, partners aim to mobilize $100B for AI data centers, energy infrastructure
The funding necessary to build out the data centers, AI factories and energy needed to power them “goes beyond what any single company or government can finance,” Microsoft President Brad Smith said.
By Lamar Johnson • Sept. 20, 2024 -
"Jones Lang LaSalle (JLL) in Pittsburgh, Pennsylvania" by Tony Webster is licensed under CC BY-SA 2.0
JLL’s Scope 1, 2 emissions jump 16% across the Americas in 2023
The company has reduced these emissions by over 20% since its 2018 baseline and is still on track to meet its net-zero targets by 2030, according to its 2023 ESG performance report.
By Nish Amarnath • Sept. 19, 2024 -
CBRE’s Scope 1 and 2 carbon emissions drop 24% since 2019
Its scope 1 emissions rose almost 16% since 2022 due to increased mileage across its vehicle fleet, which it looks to fully electrify by 2035, according to CBRE’s 2023 corporate responsibility report.
By Joe Burns • Sept. 12, 2024 -
Courtesy of Johnson Controls.
Johnson Controls continues manufacturing offload, agrees to sell its commercial PVC business
The deal represents further portfolio trimming for the building automation firm, following two recent divestitures of light commercial and residential HVAC and air distribution assets.
By Joe Burns • Aug. 16, 2024 -
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PDM Group joins Orion Group network to broaden reach, boost HVAC service capabilities
The New Jersey-based HVAC service provider will work with G.E. Mechanical, part of one of Orion’s core businesses, Astra Service Partners, in a move expected to expand the service areas of both companies.
By Nish Amarnath • Aug. 9, 2024 -
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JLL’s Work Dynamics revenue surges 17% year over year, leads Q2 boost
Workplace management revenue reached just over $3 billion in the second quarter, while an improved office sector fueled leasing growth in that period, the firm said.
By Nish Amarnath • Aug. 7, 2024 -
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Trane Technologies commercial HVAC business backlog grows to $7.5B
The company grew commercial HVAC organic bookings in the Americas more than 20% year over year, led by continued strength in data centers, education, healthcare and high-tech industrials, it said.
By Joe Burns • Aug. 6, 2024 -
Permission granted by Cushman & Wakefield
Cushman & Wakefield sells maintenance, repair and project-management business CWFS to Vixxo
The deal for the former QSI brand will help Vixxo provide convenience stores and other multisite retail operators with equipment rollouts, HVAC-R installations and more.
By Joe Burns • Aug. 5, 2024 -
Permission granted by Schneider Electric
Schneider Electric’s Q2 revenue in North America soars amid growth in energy management
Energy management revenue organically rose 15.5% year over year to nearly $3.4 billion in North America, despite contending with supply chain challenges, the company said.
By Nish Amarnath • Aug. 5, 2024 -
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Data center sales jumped 138% last quarter, Modine says
The company is adding more capacity for its data center products, and much of that available capacity is slated to come online later this year, CEO Neil Brinker said.
By Nish Amarnath • Aug. 2, 2024 -
Johnson Controls posts backlog growth amid commercial HVAC boom, announces retirement of CEO
The company’s building solutions backlog in North America grew 14% year over year to $9 billion as it offloaded two non-core businesses, pivoting away from manufacturing.
By Joe Burns • Aug. 1, 2024 -
Cushman & Wakefield’s services revenue declines in Q2, offsetting leasing growth
The company has agreed to divest a non-core business and expects about $130 million in gross cash proceeds that will be used for strategic growth opportunities, CFO Neil Johnston said.
By Nish Amarnath • July 30, 2024 -
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Honeywell’s building solutions business swells, offsetting drop in products
The building solutions business grew sales 14% in the quarter, including a 20% jump in project sales as a result of strength in the data center, healthcare and energy sectors, CFO Greg Lewis said on an earnings call.
By Joe Burns • July 29, 2024 -
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CBRE continues facilities management growth in Q2’ 2024
While the office leasing market stabilizes, the company plans to continue expanding its facilities management business through mergers and acquisitions, CEO Bob Sulentic said on an earnings call.
By Joe Burns • July 25, 2024 -
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Johnson Controls, Bosch reach agreement for light commercial, residential HVAC assets
The proposed sale is part of Johnson Controls’ ongoing restructuring intended to simplify its portfolio to focus on providing solutions for commercial buildings and data centers.
By Joe Burns • July 24, 2024 -
Coffeekai via Getty Images
Johnson Controls agrees to sell commercial, multifamily business amid residential HVAC downturn
Products that are part of the deal include terminal units, dampers, filters, fans and other equipment offered under the Koch Filter, Titus, Ruskin, Krueger, PennBarry and Tuttle & Bailey brands.
By Brian Martucci • July 17, 2024 -
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Google cuts on-site carbon emissions but struggles to contain data center electricity use
Despite implementing demand response programs, electrification efforts and power purchase agreements, AI’s computational requirements have led to increases in the company’s emissions.
By Joe Burns • July 11, 2024 -
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Orion’s Leo FM expands reach through partnership with RSM Facility Solutions
The partnership will help property managers and facility operators optimize work order management and integrate predictive maintenance tools, Orion’s co-CEO says.
By Nish Amarnath • July 11, 2024 -
Retrieved from Mainspring Energy on July 10, 2024
Mainspring Energy announces first reseller partners, channel partnership executive
Its newly formed reseller sales channel will help it to continue expanding its fuel-flexible power generator solution across the U.S., the company says.
By Joe Burns • July 10, 2024 -
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US office vacancy rates break 20% for first time ever
Preliminary second quarter data from Moody’s shows the third straight record-breaking quarter beyond previous historic peaks seen between 1986 and 1991.
By Joe Burns • July 9, 2024 -
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Canada Infrastructure Bank invests $100M in deep energy retrofits across aging buildings
GDI Integrated Facility Services will channel the loan toward implementing measures that are expected to cut greenhouse gas emissions in each building by at least 30% annually.
By Joe Burns • July 8, 2024 -
Retrieved from ASHRAE on July 02, 2024
ASHRAE establishes Center of Excellence for Building Decarbonization
The center will track emerging issues and trends, provide reliable technical information and coordinate joint initiatives, ASHRAE says.
By Joe Burns • July 2, 2024 -
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CBRE acquires Direct Line Global, bolstering data center technical services
Direct Line Global, which provides design, installation, maintenance and management solutions and server support infrastructure, will operate as part of CBRE’s data centers solutions business.
By Joe Burns • June 21, 2024
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