King Sturge has agreed a £197 million take-over with Jones Lang LaSalle. All 43 King Sturge offices and businesses across Europe, including 24 in the UK, will become part of Jones Lang LaSalle and will operate under the Jones Lang LaSalle brand. Integration of business lines and teams, and the full rebranding of all business activities, will begin immediately.
Christian Ulbrich, Jones Lang LaSalle chief executive officer for EMEA, said: “The obvious strategic and cultural fit between Jones Lang LaSalle and King Sturge makes this a logical and very attractive proposition for both firms. It gives us a scale and depth of expertise that will make our client service delivery capabilities second to none in both the UK and continental Europe.”
The merger is expected to increase depth of service to all clients as well as scale to a range of services, including industrial, global logistics and retail. The firm’s presence in Europe will broaden significantly in the rapidly growing Central, Eastern and South-Eastern European markets.
The merged business operates in 70 EMEA markets across 30 countries employing 5,300 people providing integrated real estate services worldwide to investor, owner and occupier clients. The UK business will have 2,700 employees across 34 offices making the largest commercial property organisation in the UK.