Poland-basd TF Kable has acquired JDR Cables, registered at the Edinburgh address of a firm of Scots lawyers, for an undisclosed price.
Both companies have a history of collaboration, with TF Kable being JDR’s important business partner providing water blocked power cores for its cable and umbilical systems.
JDR’s subsea systems, used in the global offshore oil, gas and renewable industries – include the MeyGen / Atlantis Resources tidal energy array off Caithness – will enhance the range of cable solutions TF Kable can provide to its customers.
Monika Cupiał-Zgryzek, Chief Executive, TF Kable – which employs some 3,000 people – said: “We are a strategic investor with long-term vision for JDR, sufficient resources to support its continued growth, and vast knowledge of the market.
“We plan to maintain JDR’s operations in current locations, providing new opportunities for the local employees and business partners”.
Jonathan Guest, Principal at Vision Capital, JDR’s selling majority owner, commented: “Our investment in manufacturing facilities has transformed JDR, tripling revenues and growing the business to become a leading supplier to the oil, gas and renewables industries. We are delighted to have secured a long-term strategic owner for the business in the next stage of its development.”
The deal is expected to conclude by the end of next month.
22 Aug 2017