Hertfordshire's JCA Engineering snapped up by facilities giant Mitie Group
Stevenage-based JCA Engineering has been acquired by facilities giant Mitie Group for up to £31.5 million in cash.
JCA has 20 years' experience of engineering projects across the UK and has a particular focus on critical environments such as data centres, where it holds design patents for cooling systems.
It delivered revenue of £71.8 million and EBITDA of £5.1m in the 12 months to end-December, 2022.
The deal will enhance Mitie's growing projects capabilities as a principal contractor, while JCA will gain access to Mitie's extensive customer base.
Phil Bentley, the group chief executive at 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."
JCA Engineering founder and chairman Ian Hodges-Jackson added: "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."
The transaction comprises an initial payment of £21 million and deferred payments of up to £10.5 million over three years, which are linked to performance.
Mitie was founded in 1987 and employs 64,000 people. It offers a range of services to the public sector through its Central Government & Defence and Communities (Healthcare, Education, Campus & Critical and Care & Custody) divisions.
Its Technical Services (Engineering Services, Energy, Water and Real Estate Services) and Business Services (Security, Cleaning, Landscapes, Spain and Waste) divisions serve private sector customers in areas such as Financial & Professional Services, Industrials, Retail and Transport, and increasingly the public sector.
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