by Brianna Crandall — February 13, 2015—Brookfield Asset Management announced this week that it has reached an agreement to acquire the other 50 percent of its Canadian and Australian facilities management businesses from Johnson Controls for approximately U.S.$200 million. This acquisition will facilitate a merger with its wholly owned businesses in the Middle East and South America as part of a broader aspiration to create the leading global FM business.
With the termination of its joint venture agreements with Johnson Controls, Brookfield will immediately launch its FM businesses in scale in the United States and Europe, building on client relationships across its 340-million-square-foot property portfolio.
“As the largest property owner in the United States, expansion to the U.S. was always natural, but not feasible under our previous agreements,” stated Cyrus Madon, CEO of Brookfield Capital Partners.
Brookfield, said to be one of the world’s leading commercial property owners, will offer FM services to tenants around the globe. In addition to its real estate relationships, Brookfield is one of the world’s largest servicing organizations for executive relocations to Fortune 500 companies, and intends to align this service offering for its customers. As one of the largest global owners and operators of infrastructure assets, Brookfield will also launch infrastructure-related FM services.
Brookfield Asset Management is a global alternative asset manager with a 100-plus-year history of owning and operating assets with a focus on property, infrastructure, renewable power and private equity. The company has a range of public and private investment products and services that leverage its expertise and experience.
