Founded in 1952, Atlanta-based Heery has approximately 535 employees in 19 US offices, offices, and provides services that include project management, architecture, engineering, interior design and commissioning. Global infrastructure firm Balfour Beatty acquired a 50% interest in Heery in 1986 and took full ownership in 1990.

In certain US markets, though, acting as program manager on a contract precludes a company from bidding as general contractor due to perceived conflicts of interest. While the Heery sale was first announced, London-based Balfour Beatty said it would remove this constraint from its US Buildings operation, while enabling it to partner with Heery on a wide range of potential projects in the future.

LOS ANGELES—CBRE Group Inc. said Monday it had closed on its previously announced acquisition of Heery International Inc. from Balfour Beatty LLC. The Atlanta-based Heery provides project management, design and commissioning services across the US to corporate, government, healthcare, sports, aviation and education clients.

The $57-million acquisition advances CBRE's strategy “to grow our project management expertise and capabilities,” says Mike Lafitte, CBRE's global group president, lines of business. “Heery has a strong track record of client service, with many longstanding relationships spanning decades. Their deep project management expertise and strong leadership team are a great complement to CBRE's existing capabilities in both our local market and account-based project management services.”

Of particular note, he adds, is the acquisition's potential for deepening CBRE's relationships in the public and educational sectors and for growing the company's position in such new vertical segments as aviation and sports. It will also add capabilities and expertise in design engineering services, Lafitte says.

Heery will continue to be led by president Theodore Sak and COO Glenn Jardine, and will work both with project management teams who focus on local markets and with CBRE's corporate outsourcing business line, Global Workplace Solutions. “We believe our expertise is a great fit with CBRE's focus on delivering comprehensive, fully integrated commercial real estate solutions,” says Jardine.

Founded in 1952, Atlanta-based Heery has approximately 535 employees in 19 US offices, offices, and provides services that include project management, architecture, engineering, interior design and commissioning. Global infrastructure firm Balfour Beatty acquired a 50% interest in Heery in 1986 and took full ownership in 1990.

In certain US markets, though, acting as program manager on a contract precludes a company from bidding as general contractor due to perceived conflicts of interest. While the Heery sale was first announced, London-based Balfour Beatty said it would remove this constraint from its US Buildings operation, while enabling it to partner with Heery on a wide range of potential projects in the future.