Deal Announcement 12/19: Real Estate

PwC acted as exclusive financial advisor to Jones Lang LaSalle (“JLL”) on the sale of its continental European property management business to MVGM.

The Deal

The German PwC M&A team is pleased to announce the successful sale of JLL’s continental European property management business to MVGM. Additionally, both companies have entered into an alliance partnership, allowing them to develop and service a joint client base in future. PwC M&A acted as exclusive financial advisor to JLL on this transaction.

PwC M&A was engaged to run a controlled process to find the most suitable strategic buyer for JLL’s continental European property management business. In addition, PwC supported JLL in preparing the Financial Fact Book and the Carve Out Book.

MVGM, the Dutch-based property manager, was chosen as the preferred bidder on the basis of terms offered and sustainability as a future partner. JLL reached an agreement with MVGM to acquire JLL’s continental European property management business, including some specialist shopping centre management teams and capabilities, creating a pure-play property manager with a pan-European footprint.

The transaction makes MVGM a top 5 European player in the evolving property management market and gives the firm a foothold in eight additional countries with c. 540 employees, including Spain, Portugal, Belgium, Luxembourg, Poland, Czech Republic, Romania and Slovakia. Moreover, it has led to an expansion of MVGM’s teams in the Netherlands and Germany.

JLL

JLL, headquartered in Chicago, is a leading professional services firm that specializes in real estate and investment management. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 93,000 as of September 30, 2019. The company offers integrated services on a local, regional and global basis to real estate owners, occupiers and investors.

MVGM

MVGM is a Netherlands-based real estate company. With nearly 1,000 employees and 28 offices in the Netherlands and Germany, MVGM focuses on property management activities. Over the past five years MVGM has grown rapidly through acquisitions, in line with its ambition to become the leading European property management company. MVGM works for a wide range of clients, including national and international investors, banks and financers, housing cooperatives, entrepreneurs, insurance agencies, private owners and governmental authorities.

PwC

The global PricewaterhouseCoopers network is a worldwide association of independent auditing and consulting companies which together employ more than 250,000 people in 158 countries. Our global network comprises nearly 1,550 M&A professionals all over the world, realising approx. 400 successful transactions per year. We specialise in a wide range of independent M&A services including advice on acquisitions and disposals, mergers, public takeovers, privatisations as well as structured financing.

PwC M&A Germany acted as exclusive financial advisor to JLL on this transaction. The transaction was led by Dr. Alexander von Friesen (Co-Head M&A Germany), Dr. Andreas Schillhofer (Partner) and executed by The Thanh Nguyen (Manager), Daniel Maccarrone (Senior Associate) and Sebastian Leker (Associate).

The PwC FDD Team comprised Thomas Veith (Partner), Matthias Bühler (Senior Manager) and Jill Gurock (Senior Associate).

The PwC DDV Team comprised Jens Weber (Partner) and Tobias Huesmann (Senior Manager).

For more information please contact Dr. Alexander von Friesen +49 (0) 69 9585-5487 or The Thanh Nguyen +49 (0) 69 9585-2602.

Contact us

Martin Schwarzer

Martin Schwarzer

Partner, Mergers & Acquisitions Co-Head

Tel.: +49 69 9585-5667

Dr. Alexander von  Friesen

Dr. Alexander von Friesen

Partner, Mergers & Acquisitions Co-Head

Tel.: +49 69 9585-5487

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