Kuala Lumpur: IJM Corp Bhd has completed the acquisition of a 50 percent equity stake in UK-based contractor JRL Group Holdings Ltd for £50 million (approximately RM283 million), through the subscription of new ordinary shares. IJM stated that the strategic move marks the beginning of a long-term partnership, aiming to enhance capabilities and seek growth opportunities in the UK market.

According to BERNAMA News Agency, JRL is headquartered in Borehamwood, Hertfordshire, and its in-house delivery model is well-aligned with IJM’s ambitions. The acquisition is set to enhance IJM’s core construction capabilities and complement its existing RM6 billion order book. JRL’s key divisions, including Midgard, J Reddington, McMullen Facades, Ark M and E, and London Tower Crane Hire, are seen as pivotal in scaling up IJM’s presence in the UK construction sector.

IJM group chief executive officer and managing director Datuk Lee Chun Fai highlighted the acquisition as a significant step in the company’s UK growth strategy. He emphasized that JRL’s strong project delivery credentials and specialized technical expertise would bolster IJM’s ability to pursue complex and infrastructure-led developments, aligning with the company’s long-term objectives in the UK market.

John Reddington, JRL Group managing director, expressed that the partnership is a major milestone for JRL, founded on mutual trust cultivated through years of collaboration. He noted that IJM’s global experience and strategic ambition resonate with JRL’s focus on complex, large-scale delivery, positioning both companies to capitalize on new opportunities and spearhead the next phase of growth in the UK.