Brookfield, Johnson Controls to Merge Australian and New Zealand Property and Facility Services Operations

Brookfield Asset Management (NYSE: BAM) and Johnson Controls (NYSE: JCI) have agreed to merge their Australian and New Zealand property and facility services operations to create Brookfield Johnson Controls.The merged entity will combine the local operations of Brookfield Multiplex Services, which provides real estate, facilities and project management services to a range of large corporate and government occupiers, with the Australian and New Zealand business of Johnson Controls Global WorkPlace Solutions (GWS), a leading provider of facilities, corporate real estate and energy management services.Key highlights-- Brookfield Johnson Controls will combine Johnson Controls GWS's global operating model, industry expertise and technology expertise with Brookfield Multiplex Services' regional infrastructure, local knowledge and established real estate, facilities and project management capabilities. -- The merged entity will manage more than 3.9 million square metres of property in more than 9,200 locations around Australia and New Zealand. Its revenue will be approximately $250 million, with a goal to double the size of the business over the next five years. -- See full press release