Brookfield Asset Management reached an agreement to acquire the other 50 percent of its Canadian and Australian facilities management businesses from Johnson Controls for about $200 million. The acquisition will facilitate a merger with its wholly owned businesses in the Middle-East and South America as part of a broader plan to create a global facilities management business.
With the termination of its joint venture agreements with Johnson Controls, Brookfield will immediately launch its facilities management businesses in scale in the United States and Europe, building on client relationships across its 340 million square feet property portfolio.
Brookfield, one of the world’s leading commercial property owners, will offer facilities management services to tenants around the globe. In addition, as one of the largest global owners and operators of infrastructure assets, Brookfield will also launch infrastructure related facilities management services.