Since selling its construction business to O’Rourke for £1 in 2001, John Laing has evolved into a specialist infrastructure investment firm. The disposal of JLIS, which has a turnover of £65m, is in line with Laing's focus on its core business of bidding for, investing in and managing infrastructure projects. It doesn’t do FM any more.
All 1,500 JLIS employees have transferred to Carillion, leaving John Laing with a total of 222 staff in its focused investment management divisions.
John Laing chief executive Adrian Ewer said: “Our decision to dispose of JLIS underlines our commitment to our principal investment and asset management activities. JLIS has made significant progress over the last few years, but it no longer fits within our core strategy. We are confident that under its new ownership, the business will see future growth within the public sector and benefit from being a part of an integrated support services company.”
Got a story? Email news@theconstructionindex.co.uk
