JLL Acquires Project Manager KHK Group

CHICAGO-Jones Lang LaSalle has acquired KHK Group, a London-based project management company. KHK Group has 54 employees, all of whom will be retained by Jones Lang LaSalle for its Project & Development Services Group, says Alastair Hughes, CEO of Jones Lang LaSalle’s Europe, Middle East and Africa division.

Hughes could not disclose financial details regarding the acquisition but says KHK Group’s revenue had been $20 million. Jones Lang LaSalle typically acquires companies for 1.5 times to three times their revenue.

KHK Group was formed in 2000 by Richard Houghton, James Morris, Graham Kent and Jim Kelly. Houghton, who was the managing director at KHK Group, will assume the role of chairman for the Project & Development Services Group at Jones Lang LaSalle in Hanover Square in London’s West End. Mike Tiplady is the lead director of the group, which had previously had about 30 employees, Hughes says. “Combining what we had and what they bring, it takes us into a top 10 market position in project management in the UK,” he says.