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History and acquisition activities
Prior to our incorporation in Maryland in April 1997 and our initial public offering (the ‘‘Offering’’) of 4,000,000 shares of common stock in July 1997, JLL conducted its real estate services and investment management businesses as LaSalle Partners Limited Partnership and LaSalle Partners Management Limited Partnership (collectively, the ‘‘Predecessor Partnerships’’). Immediately prior to the Offering, the general and limited partners of the Predecessor Partnerships contributed all of their partnership interests in the Predecessor Partnerships in exchange for an aggregate of 12,200,000 shares of common stock.
In March 1999, LaSalle Partners merged its business with that of JLW and changed its name to Jones Lang LaSalle Incorporated. In connection with the merger, we issued 14,300,000 shares of common stock and paid cash consideration of $6.2 million.
Since 2005, we have completed more than 80 acquisitions as part of our global growth strategy. These strategic acquisitions have given us additional share in key geographical markets, expanded our capabilities in certain service areas, and further broadened the global platform we make available to our clients. These acquisitions have also increased our presence and product offering globally, and have included acquisitions in the following countries:
|Hong Kong||Poland||United States|
In January 2006, we acquired Spaulding & Slye, a privately held real estate services and investment company with 500 employees that significantly increased the Firm’s market presence in New England and Washington, D.C.
In a multi-step acquisition starting in 2007, we acquired the former Trammell Crow Meghraj (‘‘TCM’’), one of the largest privately held real estate services companies in India. We have combined TCM’s operations with our Indian operations and we now operate under the JLL brand name throughout India.
In May 2008, we acquired Kemper’s Holding GmbH, making us the largest retail property advisor in Germany.
In July 2008, we acquired Staubach Holdings Inc. (‘‘Staubach’’), a U.S. real estate services firm specializing in tenant representation. Staubach, with 1,000 employees, significantly enhanced our presence in key markets across the United States and made us an industry leader in local, national and global tenant representation. The acquisition also established us as the market leader in public sector services and added scale to our industrial brokerage, investment sales, corporate finance and project and development services.
In May 2011, we completed the acquisition of King Sturge, a United Kingdom-based international property consultancy. The King Sturge acquisition, which extended our historical roots back to its founding in 1760, significantly enhanced the strength and depth of our service capabilities in the United Kingdom and in continental Europe, adding approximately 1,400 employees.
Acquisitions from 2012 through 2014
During the period from January 1, 2012 through December 31, 2014, we completed 19 new acquisitions. The entire list of the specific acquisitions is set forth in the About section of our public website.
Acquisitions During 2015
In 2015, we completed 20 new acquisitions that expanded our capabilities in key regional markets as follows:
|Five D||Australia||Facilities management|
|Propell National Valuers||Australia||Integrated valuations services|
|CMM Projekt & Office Solutions||Germany||Design and fit-out services|
|Guardian Property Asset Management||Ireland||Residential agency services|
|Tansei Mall Management||Japan||Retail property management|
|Neo-Świat||Poland||Design and fit-out services|
|AGL||Sweden||Real estate financial advisory|
|Nextport||Sweden||Tenant representation and relocation management|
|AVM Partners||Turkey||Retail property management and leasing|
|Avenue9||United Kingdom||IT consulting for the hotels and hospitality sector|
|Bluu||United Kingdom||Design and fit-out services|
|CoR Advisors||United States||Smart-building consulting and solutions|
|Corrigo||United States||Cloud-based facility management software and services|
|Cresa South Florida||United States||Tenant representation|
|Lodgetax||United States||Hotel real estate tax services and consulting|
|Martin Potts & Associates||United States||Project and construction management services|
|Oak Grove Capital||United States||Debt financing for multifamily and senior housing|
|Shelter Bay Retail Group||United States||Retail property management|
|Wilson Retail Group||United States||Retail brokerage and capital markets|
We will continue to consider acquisitions that we believe will strengthen our market positions, expand our service offerings, increase our profitability, and supplement our organic growth.