Mitie acquires JCA Engineering in $39.3Mn deal
LONDON, UNITED KINGDOM — UK facilities management firm Mitie Group has acquired engineering services company JCA Engineering for up to £31.5 million ($39.3 million). The acquisition includes an initial payment of £21 million ($26.2 million) and additional deferred payments over three years linked to performance.
Founded in 2002, JCA Engineering generated revenues of £71.8 million ($22.2 million) in 2022, representing 17% annual growth. The company specializes in consulting, design, construction, and maintenance for critical environments, including data centers, pharmaceuticals, and healthcare.
Mitie CEO Phil Bentley expressed delight over the move, saying: “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 founder Ian Hodges-Jackson noted Mitie’s ability to finance faster growth for JCA as a key reason for the acquisition, “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.”
The news comes after Mitie recorded revenues of £4.05 billion ($5.05 billion) in 2022 from £4 billion ($4.99 billion) the prior year.
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