Jardine Matheson builds engineering platform for targeted M&A

The new platform will pursue organic expansion and synergies across its existing businesses.

Jardine Matheson is establishing Jardine Engineering & Infrastructure (JEI) as a new portfolio company bringing together Jardine Engineering Corporation, Jardine Schindler, Gammon Construction, and Hactl.

JEI will build a regional engineering and infrastructure platform, with growth driven by organic expansion, targeted M&A in key growth areas, and synergies across its businesses, Jardine Matheson said.

The company will soon have its own board and a lean senior management team to execute its growth strategy.

Jardine Matheson has appointed Kevin O’Brien as CEO of JEI, with the appointment taking effect on 1 October.

O’Brien is currently CEO of Gammon, a Jardines portfolio company. He joined Balfour Beatty, a shareholder of Gammon, in Hong Kong in 1996 before moving to Gammon in 2004, where he held a number of senior roles.

He was appointed CEO of Jardine Engineering Corporation in 2018 before becoming CEO of Gammon in 2021.

Stanley Chen, Gammon’s Executive Director, Building, will serve as Acting CEO of Gammon following O’Brien’s appointment to JEI.

Chen joined Gammon as a graduate in 1996 and has held roles spanning site management, project management, and senior executive leadership.

He also serves as a Council Member of the Hong Kong Construction Association and is a member of the Vocational Training Council Apprenticeship Training Committee.

David Muir, currently Head of Finance at Jardine Matheson, will serve as CFO of JEI from 1 October.

Muir has been part of the Jardine Matheson Group since 2008 and has held several roles, including Financial Controller for Gammon Hong Kong and Group Finance Director at Jardine Motors Group.

Justin Wang will join JEI as Chief Corporate Development Officer from Anchor Equity Partners, where he is a Managing Director.

Wang previously held roles at Warburg Pincus and Apax Partners and began his career at UBS.

Lincoln Pan, CEO of Jardine Matheson, said O’Brien has deep-rooted knowledge of customers and supply chains across building, engineering, and infrastructure businesses in Asia-Pacific, as well as experience in transformation, business improvement, and sustainability.

O’Brien said JEI sees growth opportunities across Asia in engineering and infrastructure, driven by artificial intelligence and supporting infrastructure, demand for energy and sustainable solutions, and rising income levels and accelerating industrialisation in Southeast Asia.