PETALING JAYA: IJM Corp Bhd
has completed the acquisition of a 50% equity stake in UK-based contractor JRL Group Holdings Ltd for £50mil (RM283mil), via the subscription of new ordinary shares.
IJM said the acquisition enhances its core construction capabilities and complements its existing RM6bil 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 also strengthens JRL’s capital base, providing liquidity and supporting the execution of its growing order book and future pipeline,” it said.
According to IJM, the investment supports its broader strategy to diversify revenue streams and expand its international footprint.
“The United Kingdom remains a key focus for the group, with active investments across property, construction and urban regeneration.
“JRL’s track record and capabilities – particularly in complex, inner-city and infrastructure-linked sites – align with IJM’s focus on high-value, transit-oriented developments,” it explained.
Additionally, IJM said this strategic move integrates its development experience with JRL’s contractor expertise, optimising the value chain and reinforcing the group’s foothold in a mature market.
“Headquartered in Borehamwood, Hertfordshire, JRL now marks the beginning of a long-term partnership between two complementary businesses – positioning IJM and JRL to jointly scale capabilities and pursue growth opportunities in the United Kingdom.”
IJM group chief executive officer and managing director Datuk Lee Chun Fai said the completion of this 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.”
