Lend Lease Group
“Market Cap $6.05 B As of May 2014
At a Glance
- Industry: Real Estate
- Founded: 1958
- Country: Australia
- CEO: Stephen McCann
- Website: www.lendlease.com.au
- Employees: 16,536
- Sales: $12.13 B
- Headquarters: Sydney
#1076 Global 2000
- #802 in Sales
- #1200 in Profit
- #1401 in Assets
- #1680 in Market value
Lend Lease Group is a property and infrastructure development company. It engages in the development, investment management, project and construction management and asset and property management capabilities. The company operates its business through four segments: Development, Construction, Investment Management, and Infrastructure Development. The Development segment involves in the development of urban communities, inner-city mixed-use developments, apartments, retail, commercial and healthcare assets. The Construction segment provides project management, engineering and construction services. The Investment Management segment involves in the property and infrastructure investment management, property management and asset management. The Infrastructure Development segment manages and invests in public private partnerships projects. Lend Lease Group was founded by Gerardus Jozef Dusseldorp in 1958 and is headquartered in Sydney, Australia.“
“Lend Lease Group History
The Company was established by Dick Dusseldorp in 1958 to provide finance for building contracts being undertaken by Civil and Civic. In 1961 the Company acquired Civil and Civic from Bredero’s Bouwbedrijf.
In 1999 the Company formed Actus Lend Lease with the acquisition of Actus Corporation’s MILCON and technical service construction management business, and augmented this business with professionals from Lend Lease Design and Lend Lease Development. Also in 1999 the Company acquired Bovis from P&O, which now forms Lend Lease Project Management & Construction. Then in 2000 it bought AMRESCO’s commercial mortgage business. In 2001, Lend Lease acquired Delfin Property Group (now Lend Lease Communities) for $172 million. It went on to buy Crosby Homes (now Lend Lease Residential Development) for circa £240 million in 2005.
In 2005 the company moved its headquarters from Australia Square in Sydney to The Bond on Hickson Road.
In 2009, Lend Lease Corporation acquired Babcock and Brown Communities,rebranding the business as Lend Lease Primelife. At the time, this acquisition made Lend Lease Australia’s largest provider of retirement villages.
In 2010, Lend Lease announced their first foray into the consumer market with Lend Lease Solar. The subsidiary was wound up in early 2011, with no explanation as to why the division had closed.
As of 17 Feb 2011 Lend Lease announced wider ranging changes to its group of brands. This announcement means the retirement of the Bovis, Delfin, Vivas, Catalyst and Primelife brands which will now referred to using the unified Lend Lease brand.
In late February 2011, Lend Lease acquired DASCO in order to position itself to take advantage of the impending Obama administration Health sector boom. The company was immediately rebranded as Lend Lease DASCO, and operates independently of the Lend Lease Americas business.
In March 2011, Lend Lease completed the acquisition of Valemus Group (previously known as Bilfinger Berger Australia) from Bilfinger Berger Group, subsidiaries of Valemus include: Abigroup, Baulderstone and Conneq (formerly Bilfinger Berger Services). The Valemus brand was retired and replaced with Lend Lease in 2011.
In late 2012, the Victorian Government instituted a ban on Lend Lease to tender for Government work, due to laws to prohibit “friendly deals” between building contractors and trade unions.”
*Information from Forbes.com and Wikipedia.org
**Video published on YouTube by “LendLeaseGroup“