Jones Lang LaSalle and The Staubach Company Reach Agreement to Merge

Jones Lang LaSalle Incorporated, a financial and professional services firm specializing in real estate, and The Staubach Company, a real estate services firm specializing in tenant representation in the United States, announced on 6/16/08 that they have reached a definitive agreement to combine operations. The transaction is expected to close in the third quarter (subject to Hart-Scott-Rodino approval as well as other customary closing conditions).

The combined firm will operate under the Jones Lang LaSalle brand. The transaction does not include Staubach Retail Services or Cypress, Staubach’s investment development business, both of which will continue to operate under license agreements.

“The Staubach Company is recognized for exceptional tenant representation expertise and is a leading presence in markets throughout the United States. We are delighted that they have decided to join our company,” said Colin Dyer, chief executive officer of Jones Lang LaSalle. “Merging our businesses reinforces two of our global growth priorities, building our position in key U.S. local markets and strengthening our corporate services business by introducing Staubach clients to our global Corporate Solutions capabilities.”

Staubach leadership will hold key positions within the combined organization. Roger Staubach, who founded Staubach 31 years ago, will join the Jones Lang LaSalle Board of Directors and will serve in the new role of Executive Chairman, Americas. He will be actively involved in the firm, focusing on client relationships, new business development, and strategy. Greg O’Brien, currently Staubach’s CEO, will be the CEO of Brokerage, Americas, leading the newly created business that will set strategic direction in tenant representation and agency leasing. John Gates, currently Staubach’s President and COO, will serve as President of Brokerage, Americas. Both Greg O’Brien and John Gates will join the firm’s Americas Executive Committee, which is headed by Peter Roberts, Jones Lang LaSalle’s CEO, Americas.

“This merger is all about working to be the best. We want to bring the value of what we’ve built at The Staubach Company to the next level and have chosen to do this with Jones Lang LaSalle because of its global platform, commitment to service, and exceptional reputation,” said Roger Staubach, Executive Chairman of The Staubach Company. “In today’s global economy when so many of our clients want an international platform, this merger gives us the opportunity to provide those services seamlessly, as one team working together.”

The merger will leverage and strengthen Jones Lang LaSalle’s comprehensive global platform including its leading Corporate Solutions business, integrated technology platform and best practices, facility management services, and energy and sustainability services -- with Staubach’s powerful tenant representation platform and extensive reach into key U.S. markets. Combining the talent and resources of the two firms will secure a leadership position in public sector services; broaden the expertise in industrial brokerage, capital markets, and project and development services; and expand the resources focused on industry sectors such as law firms, health care, banking, logistics, life sciences, non-profits, data centers and contact centers.

“We expect this unique opportunity to bring together the complementary strengths and resources of two powerful organizations into one integrated global company will create enormous new value for our clients, our people and our shareholders,” said Peter Roberts, Jones Lang LaSalle’s CEO, Americas. “As the talented people in each company come together to share ideas, expertise and experience, they will benefit and our clients will benefit.”

The combined firm will have 33,700 employees around the world and 11,500 in the Americas with the addition of more than 1,000 Staubach employees. The transaction also will add 14 new corporate offices to Jones Lang LaSalle’s 54 in the Americas, bringing the total corporate offices in the Americas to 68 and globally to 184.

“It’s not about being bigger, it’s about being the best for our clients and our people,” said Greg O’Brien, The Staubach Company’s CEO. “By joining forces, we will gain increased scale in strategic areas such as industrial brokerage, facilities management and capital markets; we will be a dominant player in both tenant representation and agency leasing services across the Americas. Our team will have the resources to provide a higher level of service to our clients through in-depth delivery systems and service offerings.”

izzy to Acquire Jami Inc.’s Harter, Fixtures Furniture, Zoom Seating, and ABCO Brands

izzy and its parent company JSJ Corporation have executed a letter of intent to purchase Jami Inc. The transaction is expected to close in May, pending completion of due diligence and execution of documents.

Established in 1995, Jami Inc. is a holding company comprised of four brands, each with its own market niche:

• Harter – higher design management, conference and executive seating and tables in work environments;
• Fixtures Furniture – stack seating and multi-purpose tables for education, healthcare and corporate spaces;
• Zoom Seating – mid-market ergonomic task seating; and
  
• ABCO Office Furniture – modular furniture, computer furniture, and conference and training tables.
  

Each of the four brands now operating under Jami Inc. will continue to pursue its independent brand position, working with izzy to leverage this strength in its individual market segment.

“We see this transaction with izzy and JSJ as a positive partnership,” said Gregg Masenthin, president and chief executive officer of Jami Inc. “Our brands have been extremely successful in the marketplace, so our new relationship with izzy and JSJ allows us the strategic business support to continue growing and developing these brands.”

“We are excited about the prospect of the Jami brands becoming part of izzy. Each brand has earned customer loyalty within its own market segment,” said Chuck Saylor, founder and president of izzy. “Since the launch of izzy, we have cultivated a business model that lets successful brands thrive and grow around organizations with people who have the energy and vision to develop them for the future. Like our strategic partnerships with HÅG and Nemschoff, this transaction will reinforce our strategy – to be a brand-driven business. We do not intend to change what is already working well. Instead, through good design, and leveraging the input and knowledge of many talented people, each of these brands will continue to deliver on their individual brand promises, focusing on product solutions that add value for their customers.”

The pending acquisition builds on JSJ’s history of seeking out successful companies that benefit from owners that offer a long-term, personal commitment to their business interests, says Nelson Jacobson, president and chief executive officer of JSJ Corporation.

“Our role at JSJ is to provide financial and strategic leadership, and essential support resources to help our businesses like izzy do what they do best – design, make and market products that meet their customers’ needs,” he said. “Our company founders began working together nearly 90 years ago as partners. This acquisition is another example of how we intend to continue building on this legacy of entrepreneurship – locally, nationally and globally.”