Jones Lang LaSalle (JLL) Announces Acquisition of PDM International
- British American Tobacco Offers to Acquire Remaining Shares of Reynolds American (RAI) for $56.50/Share
- General Electric (GE) Tops Q3 EPS by 2c; Updates FY16 EPS Outlook
- Microsoft (MSFT) Tops Q1 EPS by 8c
- Oil rises on Russia's output freeze commitment
- AMD (AMD) Posts Q3 Operating EPS of 3c; Sees Q4 Revenue Down Sequentially
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
JLL (NYSE: JLL) has acquired PDM International, a leading interior design practice with a 20-year track record across Asia Pacific.
With more than 180 professional staff, PDM delivers innovative and creative design and construction solutions for office, retail, hospitality, residential and leisure real estate projects. The acquisition is the latest example of JLL's disciplined acquisition strategy which, since the start of 2015, has seen JLL announce or close more than 40 margin-accretive transactions with a combined value of approximately $1.2 billion.
"This is an exciting move for JLL, adding to our already strong Project and Development Services offering in Asia Pacific," says Jordi Martin, CEO, Corporate Solutions Asia Pacific, JLL. "PDM's expertise in design and construction is an ideal complement to our existing project management and construction management capabilities. This acquisition will enable JLL to deliver end-to-end, multi-disciplinary fit-out solutions across the region."
Marcus Foley, co-founder of PDM International, says: "We are thrilled to be joining the JLL family. Our expertise and geographic footprint as a company is a great fit with what JLL already offers and we are looking forward to working together to expand the business across Asia Pacific."
PDM's design and construct expertise will complement JLL's Project Management and Construction Management capabilities. With the addition of PDM, JLL will be able to provide design and construct services in 19 cities, with the addition of Beijing, Shanghai, Bangkok, Kuala Lumpur and Seoul, and continue to provide project management in 27 cities across Asia Pacific.
"We're delighted to bring the talent and entrepreneurship of PDM co-founders Marcus Foley, Dennis Lim and their team into the JLL fold and are confident that they will help us to accelerate the growth of our Project and Development Services business across Asia Pacific," adds Mr. Martin.
Mr. Foley and Mr. Lim will report to Albert Ovidi, COO, Asia Pacific, JLL, as well as Mr. Martin.
PDM services that will be incorporated into the JLL business include building analysis, feasibility studies, space planning, project brief development, concept design, 3D renderings and animations, sustainable design development, construction documentation, furniture and storage evaluation, construction and site management, FFE (Furniture, Fixtures and Equipment) specification, procurement and turnkey construction solutions.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- NuStar (NS) Announces Agreement to Acquire Crude Oil and Refined Product Terminal Assets from Martin Midstream Partners (MMLP)
- Equity Bancshares (EQBK) Clears Final Regulatory Hurdle Needed to Close Community First Bancshares Merger; Moves to Acquire Prairie State Bancshares
- Independent Bank (INDB), Island Bancorp Enter Merger Agreement
Create E-mail Alert Related CategoriesCorporate News, Management Comments, Mergers and Acquisitions
Related EntitiesDefinitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!