3i completes investment in JMJ; appoints Peter Regan as Chairman with immediate effect
3i, and co-investment funds managed by 3i, announce today that they have completed the acquisition of a 55 percent stake in JMJ Associates. The transaction was previously announced on 21 October 2013.
At the time of closing, JMJ and 3i have appointed Peter Regan as the new Chairman to take the place of JMJ founder, Jay Greenspan. Peter brings deep experience in professional services, having been CEO, then Chairman of Environmental Resources Management (ERM), a former 3i portfolio company, which is one of the largest global providers of environmental management, science and engineering services. He is also currently Chairman of Element Materials Technology, a 3i portfolio company focused on materials testing and inspection, and Trinity Consultants, a US-headquartered environmental consulting company.
Alan Giddins, 3i Managing Partner, commented: “We are delighted to have completed this transaction and look forward to partnering with Peter and the JMJ management team. Pete has a unique and valuable perspective on how to manage rapid growth in professional services companies while allowing the culture to continue to thrive.”
Peter Regan commented: “I am thrilled to be joining JMJ as Chairman. The Company provides services that are helping companies dramatically improve their operational performance in the critical areas of safety and project management. I look forward to working with the team to continue their exciting growth path.”
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For further information, contact:
3i Group plc
Kathryn van der Kroft
Tel: +44 20 7975 3021
About 3i Group
3i is a leading international investor focused on mid-market private equity, infrastructure and debt management across Europe, Asia and the Americas. For further information, please visit: www.3i.com.