El Segundo-based real estate firm CB Richard Ellis Group, Inc. announced that it has acquired The Polacheck Company, a commercial real estate services firm based in Milwaukee, Wis., for approximately $20 million.

"Polacheck is a perfect cultural and strategic fit for us," said Jim Reid, President of the Eastern Division for CB Richard Ellis. "We are intimately familiar with the firm's leadership and its professionals as a result of our longtime collaboration."

Polacheck is privately held and has 117 employees. According to CB Richard Ellis, Polacheck completed sales and leasing transactions valued at about $600 million last year and has been an affiliate for more than 10 years.

CB Richard Ellis had almost $3 billion in revenue last year and has 14,500 employees.

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