Storskogen Group AB (publ) (OM:STOR B) acquired 80% stake in J & D Pierce (Contracts) Ltd. on June 14, 2022. 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. 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. 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. J & D Pierce reported revenue and EBITA of approximately £86.8 million and £12.9 million respectively, for the financial year ending 31 July 2021. Fairgrove Partners Limited acted as Customer Due Diligence advisor to Storskogen in the transaction.
Storskogen Group AB (publ) (OM:STOR B) completed the acquisition of 80% stake in J & D Pierce (Contracts) Ltd. on June 14, 2022.