SOURCE: JLL

JLL

August 01, 2016 08:00 ET

JLL Completes Acquisition of UK-Based Property Maintenance Leader Integral

Acquisition Broadens JLL's Integrated Facilities Management Platform With Expanded Outsourcing Capabilities in the UK; JLL Now One of the Largest Providers of Mobile Engineering Services in the World

LONDON, UNITED KINGDOM--(Marketwired - Aug 1, 2016) - JLL (NYSE: JLL) today announced that it has closed the acquisition of Integral UK Ltd., a leading provider of mechanical and electrical property maintenance, which strengthens its Integrated Facilities Management capabilities and makes it one of the largest providers of mobile engineering services for property worldwide.

Integral brings to JLL its market-leading facility maintenance, electrical engineering and mobile engineering services that it provides to more than 1,600 clients across 60,000 locations in the UK. The transaction also will expand JLL's Integrated Facilities Management platform, which services more than 4 billion square feet globally, by adding skilled experts to self-perform technical engineering services for various asset classes such as office, healthcare, retail, education and industrial.

Integral will be part of JLL's Corporate Solutions business in EMEA (Europe, the Middle East & Africa), which serves leading occupiers of real estate across the region. Bryan Glastonbury, former Managing Director of Integral, will continue to lead the business.

"We are very pleased to be part of the JLL family and to have received such positive response about joining JLL from our clients and staff," said Glastonbury, Managing Director, Integral. "JLL provides an outstanding platform from which we can better serve our clients and grow our business. With the firm's strong focus on technology and data we believe there are tremendous opportunities ahead for our staff and our clients."

Guy Grainger, JLL's EMEA Chief Executive, said: "We are delighted to have completed this transformational acquisition. Integral is an excellent business with a deservedly strong market reputation, providing an ideal fit with our Integrated Facilities Management business in the UK. Bryan and his 3,700 colleagues will enable us to further enhance the comprehensive range of corporate real estate services we offer to our clients, always delivered with JLL's hallmark commitment to teamwork, ethics and excellence."

As previously announced, the acquisition has a total valuation of $330 million. It is the latest example of JLL's disciplined acquisition strategy which, since the start of 2015, has seen JLL announce or close 38 margin-accretive transactions with a combined value of approximately $1.2 billion.

About Integral
Integral is the leading independently owned Mechanical, Electrical and Fabric property maintenance business in the UK, providing both Planned Preventative and Reactive Maintenance to over 1,600 clients in 60,000 locations. From a reputation of delivering engineering excellence and a strong partnership culture, we provide a range of maintenance solutions individually tailored to suit our clients' needs. Our one-team approach ensures we always strive to identify opportunities for improved efficiency that provide our clients with cost effective, sustainable solutions.

With 17 offices our regional infrastructure allows us to maintain control of the business and ensure quality of service. We are national specialists in planned and responsive maintenance and all our services are based on 'self-delivery,' which means that we employ only the best, fully qualified in-house technicians and engineers to maintain quality standards. With over 1,500 technicians and engineers, we operate one of the largest mobile maintenance fleets in the country -- enabling us to focus on first time fix and a quick and efficient response.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $58.3 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.

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