Home » News & blogs » MVGM closes on JLL’s property management business in Germany, Slovakia and Romania
MVGM closed the acquisition in Germany, Slovakia and Romania as part of its deal to acquire JLL’s European property management business and the alliance partnership in 10 European countries.
Menno van der Horst, member of the MVGM Board: “After the successful acquisition of PropertyFirst beginning this year, MVGM already has a strong foothold in Germany. The acquisition of JLL’s property management business results in a solid European portfolio. This is a very exciting time for MVGM and I want to extend a warm welcome to our new colleagues. We believe that this step enables us to respond even better to the evolving demands of our clients. Our highly specialized teams in Germany will offer our clients an unparalleled expertise in property management, providing them with an international scope and local knowledge.”
MVGM and JLL announced the deal last July giving MVGM a foothold in eight additional countries with 540 employees in Spain, Portugal, Belgium, Luxembourg, Poland, Czech Republic, Romania and Slovakia and expanded teams in the Netherlands and Germany.
MVGM is integrating the new activities into its current business in phases, closing the transaction for the legal entity in each country separately. The current transactions bring the total of country closings up to seven. The final closings in Spain, Portugal and Poland are expected to take place year-end 2019.
MVGM has grown rapidly over the past five years through acquisitions and organic growth. 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.