Integral, the independently-owned UK provider of mechanical, electrical and fabric property maintenance, has been acquired by JLL (Jones Lang LaSalle) for $330m.
Based in the USA, JLL is a financial and professional services firm that specialises in commercial real estate services and investment management. It says that the acquisition of Integral complements its integrated facilities management platform and enables it to expand its outsourcing capabilities in the UK.
The move will also make JLL one of the largest mobile engineering services providers for property worldwide.
Originally formed in 1863, Integral UK Ltd 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 high-quality mechanical and electrical property maintenance services, including mobile engineering, fire and life safety and critical environment management.
The acquisition will strengthen JLL's ability to self-perform property maintenance for clients across Europe, the Middle East and Africa, adding to the more than 4 billion square feet of property currently serviced globally. It also will add to the company's already strong base of transactional services and establishes an engineering centre of excellence in Bristol, which will help grow and develop existing and new talent.
Integral’s managing director, Bryan Glastonbury, said: 'There is a strong cultural fit because we share the values of ethics, excellence and teamwork. 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.'
JLL president, Christian Ulbrich, added: '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.'
The acquisition is expected to close in August, subject to clearance from the European Commission.