The investment supports the company’s management buyout and includes participation from the firm’s co-investment funds.
JMJ has offices in London, Austin, Houston, Doha, Johannesburg, Perth, Brisbane, Busan, Shanghai and Singapore, with a customer base in the oil and gas, petrochemical, mining and metals and construction industries globally. Over the last three years, revenue has grown at a CAGR of 41 per cent and EBITDA has increased by 86 per cent.
3i will support the company’s next stage of development by providing operational and strategic support, as well as using its international network to identify and support further growth opportunities, according to managing partner Alan Giddins, who will join JMJ’s board alongside Andrew Olinick, principal.
Giddins said, “JMJ Associates is a truly exceptional business with a strong management team who we have known for some time. We have significant experience of the end markets in which JMJ operates and have a strong track record of working with consultancy businesses, so are well placed to work in partnership with management to take advantage of the sector’s exciting growth opportunities.”
Simon Borrows, chief executive, 3i, added, “We continue to see attractive investment opportunities, particularly businesses with a strong international footprint. We are pleased to be investing in JMJ Associates, which operates in a high growth sector where we have extensive experience and knowledge.”
3i is reported to be hiring new staff after trimming its staff by a third in the past year, seeking associates for its private equity teams in the UK and German, where it sees the best potential for profitable deals.
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