Storskogen UK acquires J&D Pierce (Contracts) Ltd
Storskogen has acquired 80 percent of the shares in J&D Pierce (Contracts) Ltd (“JDP”), a leading specialist in fabrication and site erection of structural steelwork in the United Kingdom. The company reported revenue and EBITA of approximately GBP 86.8 million and GBP 12.9 million respectively, for the financial year ending 31 July 2021. JDP is Storskogen’s first acquisition in Scotland, and an important milestone in the company’s expansion in the United Kingdom.
Since its founding in 1975, JDP has grown into a market leader in design, fabrication and site erection of structural steelwork in the United Kingdom. Today JDP has 425 employees and is headquartered in Glengarnock, Scotland. The company has a strong track record of delivering complex projects for end customers in a wide range of sectors. Growth has been underpinned by the expansion of e-commerce logistics, warehouses and publicly funded projects such as social and transport infrastructure. JDP has invested heavily in advanced robotics to automate their manufacturing facility with an aim to be best in class.
The existing management team will continue to operate the business led by Managing Director, Derek Pierce, who is committed to stay in the long term and will continue as a significant shareholder in the company.
“Storskogen is a great cultural and business fit for JDP and we have shared ambitions for the future. I am really looking forward to the next phase of growth and continuing to build the business and relationships with the Storskogen team”, says Derek Pierce, Managing Director, JDP.
JDP will be part of Storskogen’s vertical Industrial Technology within business area Industry. Fredrik Bergegård, Head of Business Area Industry, will be chairman of JDP.
“We are happy to welcome JDP and their employees to Storskogen where we see a great fit within our portfolio. Furthermore, JDP is well positioned for the future as one of the most well invested and automated companies in the market. With Storskogen’s expertise in the industry, we see potential for great collaboration and knowledge sharing between our companies to achieve further growth together”, says Fredrik Bergegård, EVP and Head of Business Area Industry.
Philip Lofgren, Head of Storskogen UK, will join Fredrik Bergegård on the Board of Directors, and views the addition of JDP to the UK portfolio as another important milestone in the international expansion of Storskogen. JDP is Storskogen’s first acquisition in Scotland and the seventh in the United Kingdom since Storskogen launched in 2020.
“What JDP has built is truly impressive, and we are excited to partner with the company in the next phase of their journey. JDP has carved out a strong position in both the high growth warehouse market as well as a leader in public infrastructure projects. In addition, they have established a foothold in exciting new sectors such as renewables and datacentres”, says Philip Lofgren, Head of Storskogen UK.
The acquisition was signed and completed on 14 June 2022.
For more information, please contact:
Philip Lofgren, Head of Storskogen UK
+44 (0)7825 956655
Michael Metzler, Press Officer
+46 (0)73 305 5955