LONDON, UK: Mitie Group announced the acquisition of leading critical environment project designer and principal contractor, JCA Engineering (JCA), for a maximum cash consideration of £31.5m (comprising an initial payment of £21m and deferred payments of up to £10.5m over three years, linked to performance).
Based in Stevenage, JCA has 20 years of experience in delivering complex engineering projects across the UK, specialising in consulting, design, build and maintenance, with a particular focus on critical environments such as data centres, life sciences and healthcare sectors.
The company’s strengths are in mechanical and electrical works, asset upgrades and replacements, and office fitouts.
JCA Engineering also holds design patents for cooling systems in data centres, delivering the highest levels of performance and energy efficiency. The company’s ‘end-to-end’ approach to project delivery, combined with longstanding relationships across the public and private sectors, will enhance Mitie’s growing projects capabilities as a principal contractor to its clients.
JCA will gain access to Mitie’s extensive customer base in our Communities and Central Government & Defence divisions, as well as those in the private sector.
For the 12 months ended 31 December 2022, JCA delivered revenue of £71.8m (17% yoy growth) and EBITDA of £5.1m (4% yoy growth). The acquisition will be funded from Mitie’s existing facilities.
Phil Bentley, Group Chief Executive, Mitie, said: “We are delighted to welcome the JCA Engineering team to Mitie. The acquisition of JCA Engineering follows the Group’s strategy to invest in high growth, high margin companies, enhancing our projects capabilities in the growth areas of energy efficiency, office fitouts and critical environments.”
Ian Hodges-Jackson, Founder and Chairman, JCA Engineering said: “I am proud of my team and the capabilities we have built at JCA Engineering over the past 20 years, alongside our reputation for delivering as principal contractor in critical environments. Given Mitie’s access to a wide range of clients and its ability to finance faster growth, I’m very excited about the next phase of JCA Engineering’s development.”