Jones Lang Wootton USA is acquiring a 100-strong California-based real estate firm. The deal boosts the number of American fee-earners by over 20% and is the start of an expansion plan set to accelerate following incorporation.
The unnamed firm operates in the San Fransisco area covering property in northern California, Los Angeles and San Diego. The move signals JLW’s intention to boost its North American presence through buying existing companies as well as through organic growth.
Chairman of JLW USA Michael Dow said next year’s planned incorporation would allow the company to borrow or bring in equity to finance further expansion. “We want to add a further 50 or 60 staff next year by expanding, but we might double or treble the size of our operation if we go for a major merger or acquisition.
Estates Gazette 22/09/97
