CBRE Group, Inc. (NYSE:CBRE) entered into an agreement to acquire APS Maintain business from BSA Limited (ASX:BSA) for AUD 20 Million on November 23, 2022. The transaction excludes APS fire building business. The APS Maintain business delivered AUD 158.7 million revenue and an EBITDA loss of AUD 4 million in FY22. The transaction is subject to customary completion adjustments and third-party consents. Transaction completion is expected by February 28, 2023. The proceeds of the sale of APS Maintain which we expect to be approximately AUD 18 million (after completion adjustments), will be used to increase working capital to meet operational costs. Transaction is expected to be completed by February 28, 2023. Moelis Australia Advisory Pty Ltd acted as financial advisor and DLA Piper Australia Pty Ltd acted as legal advisor to BSA Limited.

CBRE Group, Inc. (NYSE:CBRE) completed the acquisition of APS Maintain business from BSA Limited (ASX:BSA) on February 3, 2023.