GJP Group acquired in £multi-million deal
Operating from bases in Sheffield and elsewhere throughout the UK, the GJP Group of Companies provides specialist contracting services for large infrastructure projects such as bridges, highways and tunnels. The group has been acquired by RPM International Inc, a global leader in speciality coatings, sealants, building materials and related services serving both industrial and consumer markets with worldwide sales of approximately $3.5 billion (£2.3billion).
A team led by David Forrest and Scott Burkinshaw of BHP Ingram Forrest Corporate Finance acted as lead advisors to Managing Director Neil Bennett and his management team. David Forrest commented, “We are delighted to have advised on this very substantial transaction. There are inevitably additional complexities in a cross-border transaction but this deal demonstrates that despite the economic uncertainty, high quality businesses such as GJP remain attractive strategic targets for overseas acquirers.”
Founded in 1981, GJP employs around 160 people and has sales of approximately £35m.
In 2006 the group undertook a major expansion with the acquisition of Sheffield based Pitchmastic PMB Ltd., widely recognised as one of the leading international suppliers of specialist coating products to infrastructure projects across Europe, the Middle East and Asia Pacific.
The sale of GJP is another significant transaction in what has been a busy first quarter for the BHP Ingram Forrest Corporate Finance team, with the firm advising on deals with a combined value in excess of £75m.