We've advised long standing client Rutland Partners on its sale of JSM Group (JSM) to TowerBrook Capital Partners. With this transaction Rutland Fund III realises a return of over 6.6x (73% IRR) on the Fund's investment.
JSM Group Services Limited is a market-leading utility infrastructure services provider in the UK, specialising in delivering innovative integrated Power, Telecoms, Gas and Multiutilities solutions. The firm has built a market leading position providing technical infrastructure services to the UK&I’s Power and Communications markets.
In 2021, Taylor Wessing acted when Rutland took a majority stake of JSM, investing alongside JSM’s management. Since Rutland’s investment, JSM has delivered significant growth, driven particularly by its Power division, which provides high-voltage and extra high voltage grid connections to its blue-chip base across the data centre, battery storage and renewables markets. JSM has also developed a large and growing order book and pipeline of over £1.2 billion providing it with strong forward visibility. The business has also successfully expanded internationally with operations established in both Ireland and Germany which will further accelerate its growth.
Rutland Partners is a private equity fund focused on investing in and improving performance through operational and financial change in UK based companies.
Ed Waldron, partner and head of private equity said: "Rutland's transformative investment illustrates the high growth nature of critical infrastructure services such as those provided by JSM. We have built a very strong relationship with Rutland Partners over many years, and with the JSM management team over the life of this investment, and we were very pleased to be able to successfully deliver the exit. "
David Wardrop, Partner at Rutland added: “JSM is a fantastic, high-growth business supporting a number of infrastructure markets, and we are delighted with the successful exit to TowerBrook. We worked with Ed, Alex and the wider Taylor Wessing team on our investment into JSM and it's been great working with them once again on this exit. Their expertise in the market and experience in the sector was key to getting the deal across smoothly."
The Taylor Wessing team was led by Ed Waldron, Alexandra Poland, Lara McKeown and Erin Chu. Banking and finance was led by Martin Yells, Kaite Horbury and Alex Swayne. Tax advice was provided by Liz Wilson and Sally Robertson.
For more information, please see the press release here.
