TowerBrook Capital Partners L.P. (“TowerBrook”), today announced a majority equity investment in JSM Group Services Ltd. (“JSM” or “the Company”), a UK-based independent connections provider (‘ICP’) focusing on high-voltage works for predominantly Data Center clients in the UK.
Founded in 1998 by current CEO Stuart Wiltshire and current COO John Scanlon, JSM has built a market leading position providing technical infrastructure services to the UK&I’s Power and Communications markets. The Power division provides high-voltage and extra high voltage grid connections to its blue-chip base across the data center, battery storage and renewables markets. The Communications division provides core fibre infrastructure network, data center and mobile network services to a number of longstanding Communications customers. JSM is recognised for its differentiated knowledge and expertise in its core markets, strong operational capability as well as its significant commitment to quality customer service and health & safety.
In recent years, JSM has delivered significant growth, driven particularly by its Power division, which has achieved organic sales growth of 50%+ p.a. over the past 3 years. The Company has successfully developed its market leading position and benefited from trends around growing data demand and connectivity requirements, electrification and decarbonisation. JSM has developed a large and growing order book and pipeline of over £1.2bn providing it with strong forward visibility, and the Company has also expanded internationally with significant opportunity for further penetration into Europe.
JSM will continue to be led by CEO Stuart Wiltshire with the majority of the senior team remaining in the business as it continues to expand its customer base and further develops into international markets. John Leahy will continue as Chair.
Stuart Wiltshire, CEO of JSM, said: “We are very excited to partner with TowerBrook on the next phase of JSM’s journey. We look forward to accelerating our growth further in the UK and internationally alongside TowerBrook, and continuing to grow and develop JSM as one of the leading and trusted infraservices providers in the sector.”
Joseph Knoll and Sumit Dheir of TowerBrook said: “We are excited to be working with the founders and management team at JSM. We have spent several years following the infrastructure services sector and JSM stood out as an exceptionally high-quality asset with an impressive development in the past few years. We are convinced that with our extensive industrial services experience we are the right partners to support the founders and management team in the next phase of growth, both in the UK and internationally.”
TowerBrook was advised by Canaccord (M&A), Fried Frank (Legal), Roland Berger (Commercial), EY (Finance), Eight Advisory (Operational), PwC (Tax and Legal), Baringa (ESG) and Vista (Insurance).
