JLL acquires Five D

JLL acquires Five DGlobal real estate services firm JLL has expanded its reach in Australia and the Asia Pacific, with the acquisition of Australia’s largest privately owned corporate real estate firm, Five D.The combined businesses will span almost 10 million square metres of property and facilities under management, more than 11,000 sites, nearly 1000 staff, 60 corporate clients and will provide building facilities management services for workplaces for more than one million Australians.JLL says the acquisition supports its global and regional growth strategies. CEO of JLL Australia, Stephen Conry, says “this is a good strategic fit for our business in Australia” which 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. The move will also expand JLL into new sectors, such as childcare and not-for-profit, in which Five D has strongly established services. The current CEO of Five D, Steve Mackintosh (pictured), will assume the role of JLL’s chief operating officer for IFM Australasia. The acquisition adds a further 200 employees to JLL’s team of 1800 employees in Australia.JLL has grown revenues in its Integrated Facilities Management business in Australia by 51 per cent over the past five years.Established in 2003, Five D was Australia’s largest privately-owned corporate real estate outsourced service provider. 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.