IJM completes acquisition of 50% equity stake in JRL Group

Malaysian institution IJM has completed the acquisition of a 50% equity involvement successful UK-based JRL Group Holdings for £50m ($66.4m, RM283m).

This concern signifies the commencement of a semipermanent concern aimed astatine enhancing capabilities and pursuing maturation opportunities wrong the UK operation market.

This acquisition was initially reported successful November 2024.

Headquartered successful Borehamwood, Hertfordshire, JRL is simply a operation solutions supplier established successful 1996.

With 14 specializer divisions, JRL offers a afloat scope of contracting, design, manufacturing, and works services.

The institution has a portfolio crossed residential, commercial, and organization sectors, boasting an bid publication worthy £1.45bn (approximately RM8.49bn), which provides net visibility for the upcoming 3 years.

According to the company, the acquisition is acceptable to bolster IJM's halfway operation capabilities, complementing its existing RM6bn bid book.

JRL's in-house transportation model, which includes divisions specified arsenic Midgard, J Reddington; McMullen Facades; Ark M&E; and London Tower Crane Hire, is claimed to beryllium peculiarly synergistic with IJM's strategy to grow successful the UK market.

This determination is besides stated to fortify JRL's superior base, enhancing liquidity and supporting the execution of its bid publication and aboriginal projects.

IJM's broader strategy involves diversifying gross streams and expanding its planetary presence, with the UK being a focal constituent for the group's investments successful property, construction, and municipality regeneration.

JRL's expertise, particularly successful analyzable municipality and infrastructure-linked sites, is stated to beryllium aligned with IJM's involvement successful transit-oriented developments.

The acquisition combines IJM's improvement acquisition with JRL's contracting proficiency, optimising the worth concatenation and solidifying the group's presumption successful a mature market, states the institution successful its property release.

Since 2021, JRL has diversified into spot development, with astir 2,400 build-to-rent and co-living units crossed 7 sites, estimated to person a gross improvement worth of £780m (approximately RM4.58bn).

JRL's main contracting division, Midgard, has a past of collaboration with IJM, having constructed IJM Land's archetypal UK development, Royal Mint Gardens Phase 1.

IJM Group CEO and managing manager Dato' Lee Chun Fai said: “The completion of this acquisition marks a important advancement successful IJM’s UK maturation strategy. JRL’s beardown task transportation credentials, specialised method expertise and coagulated bid publication heighten our operation capabilities. This enables america to efficaciously prosecute complex, transit-oriented and infrastructure-led developments, aligning with IJM’s semipermanent plans successful the UK market.”