Broker JLL has acquired Polish property fit-out provider Neo-Oewiat with the aim of incorporating the business into its Tétris design and fit-out brand.
Broker JLL has acquired Polish property fit-out provider Neo-Oewiat with the aim of incorporating the business into its Tétris design and fit-out brand.
As part of the acquisition, which takes immediate effect, Neo-Oewiat’s existing team of 68 will operate under the Tétris brand, led by Pawel Brodzik and Rajmund Wêgrzynek, founders of Neo-Oewiat and now joint managing directors of Tétris.
The newly combined operations will offer a range of fit-out services, including space planning, design, project management and construction, as part of JLL’s broader Tétris capability which now extends to 16 countries in the EMEA region.
'The acquisition is strongly mutually beneficial,' the company said in a statement, adding that it enables Neo-Oewiat to access a wider client base and larger-scale projects while strengthening JLL’s Tétris business in the high-growth Polish market.
Pawel Brodzik, managing director of Tétris, said: 'With this union, we will reinforce our technical capabilities and gain international scale, as well as access to the tools, solutions, knowledge and, last but not least, clients from across the globe.'
'Tétris and Neo-Oewiat are culturally and strategically aligned, sharing the same core business model based on quality and highly complementary values and methods. Therefore this merger is a logical growth step for both companies,' added Tomasz Trzóslo, managing director of JLL Poland.
Since its creation in 2003, JLL's Tétris business has reached a turnover of €192 mln in 2014.