Home » News & blogs » Completion of the acquisition of JLL’s property management business with final closing in Portugal, Spain and Poland
MVGM is pleased to announce the closing of the previously announced acquisition on 2 July 2019 of JLL’s European property management activities and the alliance partnership in 10 European countries. This includes an additional 12 million square meters to the MVGM European portfolio and access to additional high-profile clients including leading global real estate investors.
With the closing of the acquisition of JLL’s European property management business, MVGM significantly increases its presence in Europe. The acquisition gives MVGM an immediate foothold in eight additional European countries and expanded teams in the Netherlands and Germany. Over the last weeks MVGM finalised the transaction in the Netherlands, Germany, Romania, Slovakia, Czech Republic, Belgium and Luxembourg. As of today also the JLL activities in Spain, Portugal and Poland are integrated into MVGM.
As a result, MVGM is now the no. 1 player in its home market in the Netherlands and a top 5 European property management player.
“Today we have completed the acquisition of JLL’s European property management activities. This is a milestone for MVGM in our ongoing ambition to create a European leader in property management. Our international growth strategy is based on accelerating innovation as enabled by a greater scale and further optimisation through digitalisation, while always maintaining the highest standards. This acquisition as closed today fits perfectly within our ambition,” said Menno van der Horst, Member of the Board MVGM. “Since announcing the transaction this July, we’ve have welcomed 540 colleagues in 10 European countries to our organization. Together, as one highly specialized and dedicated team, we are building a true European company.”
MVGM has grown rapidly over the past five years through organic growth and acquisitions. The company’s successful track record in bolt-on acquisitions includes Germany’s PropertyFirst in 2019, its merger with Verwey in 2018 and the Dutch acquisition of Actys in 2016.