IJM buys 50pct stake in UK's JRL Group for more than RM280mil
KUALA LUMPUR: IJM Corp Bhd has acquired a 50 per cent stake in JRL Group Holdings Ltd for £50 million, or about RM283 million, via the subscription of new ordinary shares in the UK-based contractor.
JRL is an integrated construction solutions provider with 14 specialist divisions offering end-to-end contracting, design, manufacturing and plant services.
It holds a £1.45 billion order book, providing earnings visibility for the next three years.
IJM said the acquisition enhances its core construction capabilities and complements its existing RM6 billion order book.
IJM group chief executive officer and managing director (MD) Datuk Lee Chun Fai said the acquisition marks a significant milestone in the company's growth strategy in the UK.
"JRL's strong project delivery credentials, specialised technical expertise and solid order book enhance our construction capabilities.
"This enables us to effectively pursue complex, transit-oriented and infrastructure-led developments, aligning with IJM's long-term plans in the UK market," he added.
IJM said the investment complements IJM Land's flagship Innova joint venture with Network Rail Property, targeting multiple railway-adjacent sites across four London boroughs.
"Finalising this partnership marks a major milestone for JRL, built on mutual trust developed over years of collaboration,"
said JRL Group MD John Reddington.
"IJM's global experience and strategic ambition align with our focus on complex, largescale delivery. Together, we are well-positioned to unlock new opportunities and drive the next phase of growth in the UK," he added.
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