Secondary Buyout • Utilities

TowerBrook Capital Partners Acquires JSM Group

On July 29, 2024, private equity firm TowerBrook Capital Partners acquired utilities company JSM Group from Rutland Partners

Acquisition Context
  • This is TowerBrook Capital Partners’ 1st transaction in the Utilities sector.
  • This is TowerBrook Capital Partners’ 19th transaction in the United Kingdom.

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M&A Deal Summary

Date July 29, 2024
Target JSM Group
Sector Utilities
Buyer(s) TowerBrook Capital Partners
Sellers(s) Rutland Partners
Deal Type Secondary Buyout

Target Company

JSM Group

Hertfordshire, United Kingdom
JSM Group is an independent connections provider (‘ICP’) focusing on high-voltage works for predominantly Data Center clients in the UK. The power division provides high-voltage and extra-high-voltage grid connections to its blue-chip base across the data center, battery storage, and renewables markets. The communications division provides core fiber infrastructure network, data center, and mobile network services to serveral longstanding communications customers. JSM Group was founded in 1998 and is based in Hertfordshire, United Kingdom.
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Buyer Overview 1

Buyer

TowerBrook Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 22.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TowerBrook Capital Partners is a private equity firm focused on leveraged buyouts, leveraged build-ups and distressed situation investments throughout North America and Europe. TowerBrook prefers control-oriented investments and actively pursues complex situations that other firms may avoid. Target sectors include consumer services, distribution, beverages, pharmaceuticals, media, technology, communications, software, and healthcare. TowerBrook Capital Partners was established in 2001 and is headquartered in New York City.


Deal Context for Buyer #
Overall 96 of 101
Sector: Utilities 1 of 1
Type: Secondary Buyout 28 of 29
Country: United Kingdom 19 of 20
Year: 2024 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-12 IDAK

Spreitenbach, Switzerland

IDAK is a market-oriented holding company with ownership of independent and established companies in the field of food production. With their products and services, the portfolio companies are all positioned in the premium segment and have a focus on frozen food. IDAK was founded in 2018 and is based in Zug, Switzerland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-31 Sateba Group

Paris, France

Sateba Group consists of a portfolio of brands that designs and manufactures sleepers and other precast concrete products for railways for close to 100 years. Sateba Group was founded in 1925 and is based in Paris, France.

Sell -

Seller Profile 1

SELLER

Rutland Partners

London, United Kingdom

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 650M GBP
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Rutland Partners is a generalist private equity firm focused on investing in mid-market companies based in or with a significant presence in the UK. Rutland looks to commit £10-50 million of equity capital in companies valued up to £150 million. Prospective transactions can take the form of take privates, management buyouts, management buy-ins, replacement capital, turnarounds, and secondary purchases. Rutland Partners was formed in 1986 and is based in London.


Deal Context for Seller #
Overall 24 of 25
Sector: Utilities 1 of 1
Type: Secondary Buyout 3 of 3
Country: United Kingdom 20 of 21
Year: 2024 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-16 Total Rail Solutions

Thatcham, United Kingdom

Total Rail Solutions is a provider of operated and non-operated road-rail plant, sub-contracting services and labour to rail sites. The business also derives a significant proportion of revenue from value-add Plant Operations Scheme (“POS”) services, including on-track plant planning, delivery and site management. Total Rail Solutions was established in 2007 and is based in Thatcham, United Kindom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-13 Aston Barclay

Normanton, United Kingdom

Aston Barclay is an independent car auction group, currently operating from four sites in the UK. The company provides vehicle remarketing services to fleet and dealership vendors. Aston Barclay was established in 1985 and is based in Normanton, United Kingdom.

Sell -