Agent JLL has reached a definitive agreement to acquire Integral UK, a major provider of mechanical and electrical property maintenance, in a move that will make JLL one of the largest mobile engineering services providers for property worldwide.
Originally formed in 1863, Integral specialises in delivering facility maintenance services and complex mechanical and electrical engineering solutions to real estate owners, managers and occupiers.
With more than 1,600 clients across 60,000 locations, the company is known for providing a broad scope of mechanical and electrical property maintenance services including mobile engineering, fire and life safety, and critical environment management.
The acquisition, valued at $330 mln (€290 mln) will strengthen JLL's ability to self-perform property maintenance for clients across Europe, Middle East and Africa, adding to the more than 4 billion sq ft (37 million m2) of property currently serviced globally.
The acquisition is expected to close in August, subject to clearance from the European Commission.
Christian Ulbrich, President, JLL, said, 'Having worked together extensively over many years, we know that Integral will be a strategic fit to our growing integrated facilities management platform and a synergistic match to JLL's commitment to client service and innovation. Integral's 3,700-strong team and reach throughout the UK will substantially strengthen and expand the outsourcing offer we can provide to corporate clients and to investor clients of our property & asset management business.'
'There is a strong cultural fit because we share the values of ethics, excellence and teamwork,' said Bryan Glastonbury, managing director of Integral. 'What's exciting is the future that we can shape together for our clients and staff. By aligning our mechanical and engineering capability with JLL's deep expertise and global platform, we are building economies of scale and superior solutions for our combined client base.'
