Mitie buys engineering and fit-out contractor for £31.5m

Aaron Morby 10 months ago
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Mitie Group is returning to new build contracting after buying Stevenage engineering and fit-out contractor JCA Engineering for up to £31.5m.

Engineering and fit-out contractor employs 200 staff
Engineering and fit-out contractor employs 200 staff

Based in Stevenage, JCA turned over £72m last year delivering a pre-tax profit of just over £5m with around £19m cash at bank. It employs 200 staff.

JCA brings 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 firm’s strengths are in mechanical and electrical works, asset upgrades and replacements, and office fit-outs.

JCA also holds design patents for cooling systems in data centres.

Mitie said the deal will open the door for JCA to its extensive customer base in the communities and central government and defence divisions, as well as those in the private sector. 

The two-stage purchase deal will see an upfront payment of £21m and deferred payments of up to £10.5m over three years, linked to performance.

Mitie said that JCA’s ‘end-to-end’ approach to project delivery, combined with longstanding relationships across the public and private sectors, would enhance Mitie’s growing projects capabilities as a principal contractor to its clients. 

Phil Bentley, group chief executive of Mitie, said: “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: “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.”

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