JLL expands project management platform in Canada with acquisition of PMX
Acquisition enhances expertise in large capital projects
TORONTO, Oct. 31, 2016 – In today's economic environment, commercial real estate providers in Canada are increasingly expected to support large-scale capital projects. In response, JLL (NYSE: JLL) today announced it has acquired PMX Inc., a Toronto-based project management firm that specializes in public and private infrastructure projects. The acquisition expands the existing Project and Development Services (PDS) platform across Canada and is consistent with JLL's initiative to increase overall global PDS engagement.
"PMX is an excellent fit for our growing PDS platform and brings an unparalleled commitment to client service and innovation," said Brett Miller, President, JLL Canada. "The combined business allows JLL to meet the increased client demand for comprehensive real estate services, particularly for large-build projects in both the public and private realms."
Approximately 20 PMX employees joined JLL, including founding Principals Tom Finan, Les Medd, Ed Bush and Sevag Kupelian. The leadership team has over 100 years of combined project management, engineering and construction management experience and will share management responsibilities of the PDS business in Toronto and across Canada.
"This acquisition will allow JLL to meet the needs that will be created by the pending public spending influx proposed by the new Federal Government," said Miller. "It also will deliver a wider range of project management expertise that clients with healthcare, infrastructure and industrial properties increasingly require."
As a market leader in large-scale, complex projects, PMX has been involved with some of the most prestigious developments in both the public and private sectors in Canada. Notable projects include the Ripley's Aquarium of Canada, NHS Health Care Complex and Walker Family Cancer Centre, and the Lower Churchill Hydroelectric Development.
"This acquisition supports our vision to become a key player in Canada. By leveraging JLL's extensive resources and experience, our team will gain exposure to private sector clients and commercial owners to extend our service offerings further," said Tom Finan, Principal, PMX.
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $59.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.