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Equity partnership finalized between JGC Engineering and Technical Services and Langfields.
Morphose Capital Partners, a London-based mergers and acquisitions, corporate restructuring, and finance firm, has announced the completion of an equity partnership between Scotland-based JGC Engineering and Technical Services and Langfields, a subsidiary of the Envoy Engineering Group. The deal was concluded on April 21, 2023, with Morphose providing advisory services to JGC throughout the process.
JGC, an engineering company based in Thurso, Scotland, began with a focus on welding and has since expanded into specialized steel design and fabrication for the energy sector, including nuclear, wind, wave, and tidal energy. JGC enlisted Morphose's to identify an appropriate investment partner, advising on deal terms and structure, and providing support for the board and shareholders. JGC's senior team aimed to continue working within the operation and sought a partner they could respect and collaborate with.
Envoy Engineering Group viewed the partnership as an ideal opportunity. Langfields Engineering Group, an investee business of Envoy, financed the partnership. As a result, Langfields acquired a majority equity stake in JGC while retaining the JGC management team's expertise. The partnership benefits both parties by preserving senior management continuity and facilitating further financial growth through retained equity.
The combined engineering and manufacturing expertise of the partnership is expected to enhance their position in renewable energy and oil and gas plant design and manufacturing across the United Kingdom.
Dave Seaton, a director at Morphose, expressed satisfaction with the partnership, highlighting the mutual respect between stakeholders and the support Langfields can offer for JGC's future growth. JGC Managing Director Will Campbell also welcomed the investment, saying, "After five decades of family ownership, we're certain Langfields will support JGC to grow to the next level and benefit from the substantial demand for new and clean energy sources."