2017 Year In Review
2017 marked another busy year for JLL, particularly in terms of exits.  We’re excited to share some of our accomplishments and hope that we have a chance to speak with you soon to discuss our progress in more detail.
 
Wishing you a happy, healthy New Year!
4 Portfolio Company Exits
PATHEON EXIT
  • In August 2017, JLL closed the sale of Patheon, a Fund V & Fund VI investment, to ThermoFisher for $35 per share, representing a 35% premium to Patheon’s last closing price and a 67% premium over its IPO (in July 2016) price
  • Under JLL’s ownership, Patheon pursued the vision of creating a single-source end-to-end provider to its pharmaceutical and biotech customers. The company completed multiple strategic acquisitions, developed long-term strategic relationships with several of the world’s largest pharma customers, executed divestitures of non-core assets and completed a successful IPO
LOAR GROUP EXIT
  • In September 2017, JLL closed the sale of Loar Group, a Fund VI investment, our build-up focused on niche, proprietary aerospace parts and manufacturing
  • During JLL’s ownership, we grew and transformed the company through a series of eight aerospace acquisitions (six of which were acquired outside of an auction process)
BUILDERS FIRSTSOURCE EXIT
  • In September 2017, JLL fully exited our position in Builders FirstSource, Inc., a Fund V investment, the nation’s largest distributor and manufacturer of building products for the new home and multi-family construction market
IASIS EXIT
  • In October 2017, JLL closed the sale of IASIS, a Fund IV investment, our integrated hospital services company, to Steward Health Care LLC 
One New Platform Investment
XACT DATA DISCOVERY ACQUISITION 
  • On December 22, 2017, JLL acquired Xact Data Discovery (“Xact”), Fund VII’s fifth platform investment.  Xact is a leading provider of litigation support services including electronic discovery, data management and managed review services
  • JLL believes that the highly-fragmented electronic discovery industry is at an inflection point and poised for consolidation. We expect to invest significant additional capital over the next several years to further build out this platform through a combination of M&A and organic initiatives (there are a number of both proprietary and intermediated opportunities that JLL is actively pursuing
29 Add-on Acquisitions
5 Add-Ons Completed
2 Add-Ons Completed
18 Roll-Ins / Add-Ons Completed
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One Add-On Completed
3 Add-Ons Completed
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Capital Markets Activity
 Completed seven new financings totaling $800 million, taking our total to 50 financings and $12.8 billion of debt placed directly by JLL since the inception of in-house capital markets in 2010
  • Six financings placed directly with lenders with no intermediary, providing certainty of execution, flexible terms and lower fees
  • Four financing were for add-on acquisitions at existing portfolio companies
 
Completed two debt repricings
 
Continue to execute terms and conditions in JLL’s financings that provide maximum flexibility and downside protection and are unparalleled in the middle market
Fund VII Update
JLL held a final close for Fund VII on March 31, 2016 at approximately $1 billion.  As of December 31, 2017, Fund VII is 39% invested and 62% committed across five platform investments
Looking Forward to 2018
We've moved! JLL Partners is now located at 245 Park Avenue, Suite 1601. 
We look forward to connecting with you in 2018 and hope to host you in our new location!