News Release

Raoul Hughes, CFO of Bridgepoint said “JDR management has followed a robust business strategy that has not only grown the company’s value substantially but has positioned the group for further expansion in its chosen markets. We are delighted to have achieved our investment objectives and to have sold the business to another private equity shareholder so that senior managers have the opportunity to realize the full value of their own investment”

Scott Greenhalgh, Managing Director of Vision Capital, commented “We are impressed with the strength of JDR’s key customer relationships that have been developed over a long history of providing complex umbilical and cable systems. We look forward to making further investments in manufacturing capacity to expand the business in both its core products, and also the new opportunities offered by the Renewable Energy sector.

Pat Herbert, Group CEO of JDR said “Having had considerable acquisition interest from a number of major companies, principally in the upstream Oil & Gas sector, we are very pleased to be continuing our development of the business within the portfolio of another private equity group. We have a number of major investment plans that will be announced in due course, and I feel sure that JDR’s market leadership will be extended to new heights in the years ahead.