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HELSINKI and LONDON

JLL acquires Procofin, expanding its platform in Finland

Procofin adds leading project & development services capability and doubles JLL's Finland headcount


JLL (NYSE: JLL) today announced that it has acquired Procofin Oy, one of Finland's market leaders in providing project development and architectural services. The combination with Procofin provides a highly complementary fit alongside JLL's existing national market-leading strengths in real estate capital markets, leasing and valuation work. The two businesses have a close affinity stemming from a long track record of working together for the same clients on projects in Helsinki and across the country. The addition of the 43-strong Procofin team doubles JLL's headcount in Finland to over 70 employees and takes JLL's total presence in the Nordics to 190.

Tapani Piri, Managing Director, JLL Finland, said: "As we looked for a high quality partner to build our project and development services capability, Procofin was always our first choice. We know their team and services very well and we have been very impressed by their work and the great feedback they receive from clients. I am really excited that we can now together offer clients Procofin's full service range alongside JLL's existing market-leading capabilities in real estate investment, leasing and valuation."

Richard Bloxam, member of JLL's EMEA Management Board, said: "Tapani and his team have developed an excellent platform for transactional work and advice for investor and occupier clients across Finland. With them, we have been looking at how to expand that platform to provide the broader suite of services that JLL provides in other countries across Europe and worldwide. The opportunity to combine with Procofin provides the perfect solution. This is a great fit."

Sami Hentilä, CEO, Procofin Oy, commented: "JLL has an outstanding international platform, range of services and client base. Merging with them gives us the chance to grow and develop our own capabilities and attract more clients and more talented colleagues. This is a great result for our strategic growth objectives. We cannot wait to get started."