IJM Buys 50 Pct Stake In UK's JRL Group For RM283 Mln

KUALA LUMPUR, April 24 (Bernama) -- IJM Corp Bhd has completed the acquisition of a 50 per cent equity stake in UK-based contractor JRL Group Holdings Ltd for £50 million (approximately RM283 million), through the subscription of new ordinary shares.

IJM said in a statement today that JRL, headquartered in Borehamwood, Hertfordshire, marks the start of a long-term partnership between two complementary businesses, positioning both companies to jointly scale their capabilities and pursue growth opportunities in the United Kingdom (UK).

“The acquisition enhances IJM’s core construction capabilities and complements its existing RM6 billion order book.

“JRL’s in-house delivery model — spanning key divisions such as Midgard (main contracting), J Reddington (concrete), McMullen Facades, Ark M&E and London Tower Crane Hire — aligns with IJM’s ambitions to scale up in the UK construction market,” it said.

IJM group chief executive officer and managing director (MD) Datuk Lee Chun Fai said the acquisition marks a significant advancement in IJM’s UK growth strategy.

“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 said.

JRL Group MD John Reddington said that finalising this partnership marks a major milestone for the group, built on mutual trust developed over years of collaboration.

“IJM’s global experience and strategic ambition align with our focus on complex, large-scale delivery. Together, we are well-positioned to unlock new opportunities and drive the next phase of growth in the UK,” he said.

-- BERNAMA