Los Angeles-based CBRE Group Inc. on Oct. 5 agreed to buy the design and project management firm Heery International Inc., Atlanta, from U.K. contractor Balfour Beatty LLC, as the British construction giant continues shedding non-core assets in a turnaround engineered by CEO Leo Quinn, brought on in 2015 to revitalize the profit-challenged firm. The deal, for around $57 million, is set to close by year-end.
For CBRE, the acquisition “advances our strategy to grow our project management expertise and capabilities,” said Mike Lafitte, CBRE’s a global group president.