Global real estate services firm, JLL has acquired Australia’s largest privately owned corporate real estate outsourced service provider, Five D.
The combined businesses will span almost 10 million square metres of property and facilities under management across Australia, for over 11,000 sites, with nearly 1000 staff providing integrated facilities management (IFM) services to 60 corporate clients.
Commenting on the acquisition, CEO of JLL Australia, Stephen Conry said:
“This is a good strategic fit for our business in Australia. Bringing together two leading corporate real estate providers will strengthen JLL’s market position, by reinforcing our existing core business, particularly in the federal and state government sectors. Both firms have been providing property services to government departments and agencies for a number of years.
“It also will expand JLL into new sectors such as childcare and not-for-profit in which Five D has strongly established services.
“We welcome all of the Five D team to our business, which will increase our talent pool and add a further 200 employees to JLL’s 1800 strong team in Australia.”
The current CEO of Five D, Steve Mackintosh will take a leading role at JLL, as chief operating officer for IFM Australasia.
Five D is being acquired as a wholly owned Jones Lang LaSalle company. There will be an initial 100-day transition plan to integrate the two businesses.