SWEDEN-based Storskogen has announced it has acquired 80% of the shares in Ayrshire-based structural steelwork specialist J&D Pierce (Contracts) Ltd.
The move marks Storskogen’s first acquisition in Scotland – and seventh in the UK overall – and was hailed as an ‘important milestone’ in the company’s UK expansion.
J&D Pierce has 425 employees and is headquartered in Glengarnock. The company has completed projects in a range of sectors and growth is said to have been underpinned by the expansion of e-commerce logistics, warehouses and publicly funded projects such as social and transport infrastructure.
The existing management team will continue to operate the business led by MD Derek Pierce, who Storskogen revealed is committed to stay in the long term and will continue as a ‘significant shareholder’ in the company.
“Storskogen is a great cultural and business fit for JDP and we have shared ambitions for the future,” Derek Pierce said. “I am really looking forward to the next phase of growth and continuing to build the business and relationships with the Storskogen team.”
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. He said, “We are happy to welcome JDP and their employees to Storskogen where we see a great fit within our portfolio.
“Furthermore, JDP is well positioned for the future as one of the most well invested and automated companies in the market. With Storskogen’s expertise in the industry, we see potential for great collaboration and knowledge sharing between our companies to achieve further growth together.”
Philip Lofgren, head of Storskogen UK, will join Fredrik Bergegård on the board.
