JLL Grows in Sweden
- Sep 08, 2015
Stockholm, Sweden—JLL continues its global expansion. The Chicago-based professional services and investment management firm announced today the acquisition of AGL, a specialist real estate financial advisory business headquartered in Stockholm.
AGL is a securities company under the supervision of Finansinspektionen, Sweden’s Financial Supervisory Authority, which specializes in finance, financial risk management and treasury outsourcing. Since it opened, in 1994, the Swedish advisor has helped more than 200 companies and organizations to develop optimal strategies for the management of financial risk. It currently employs 15 people.
JLL’s existing real estate capital markets business was already a market leader in Sweden, following last year’s acquisition of Tenzing. However, with the addition of AGL, the company will expand its market-leading capital markets capabilities in the Scandinavian country even more.
In order to complete the deal, JLL still needs the approval of the Swedish Financial Supervisory Authority, which it expects to receive this autumn. Once this final hurdle is passed, an integration phase will commence and the AGL team will be relocated to JLL’s existing Stockholm office at Birger Jarlsgatan 25.
“We are really excited by this further addition to our client service offering in Sweden,” Daniel Gorosch, managing director of JLL Sweden, said. “The AGL business makes an ideal complementary fit alongside JLL’s existing Capital Markets capabilities, enabling the combined team of 45 to become a full service provider across the whole real estate capital stack, which means we can offer a truly comprehensive service package for our clients. Knowledge of the right financial solutions plays a greater role in today’s world as international capital increases and as transactions become larger and more complex. This knowledge is a crucial factor for success in the real estate business.”
“I’m really looking forward to leading Debt & Financial Advisory for JLL in Sweden,” Linus Ericsson, CEO of AGL and incoming Head of Debt & Financial Advisory for JLL Sweden, added. “Together we can see a great potential to further develop and sharpen our already great offers within JLL’s strong local and international network. By combining our financial expertise with JLL’s leading international real estate services platform, we can create offers that I believe will be of great benefit to our customers.”
JLL is currently expanding quite rapidly in Sweden. In addition to AGL and Tenzing, the company has also acquired Nextport, a tenant representation and relocation management business, in April. At the moment, the Chicago-based firm’s Swedish office is home to 115 employees.