LONDON, 1 August 2016 – JLL (NYSE: JLL) today announced that it has closed the previously announced 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 - and culture of teamwork, ethics and excellence - 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.