New era for Cumbria’s Stobbarts after Jacobs sale

A CUMBRIAN construction company, founded 25 years ago with just a handful of staff, has been acquired by US-based giant Jacobs Engineering Group Inc.

Workington-based Stobbarts, which has annual turnover of £27m and employs around 300, has a base at the Sellafield nuclear plant where it was awarded a £58m contract last year.
 
Founder John Stobbart will continue to lead the business, which spans construction, civil engineering, nuclear, decommissioning, house building and housing modernisation activities.

Mr Stobbart was advised on the sale by a corporate team at Manchester law firm Pannone.

Commenting on the deal Mr Stobbart said: “This is a tremendous development for us, enabling us to diversify and give our talented employees the chance to grow their careers. Jacobs’ philosophy of partnering with clients to develop long-term relationships mirrors our own – as such, they represent an ideal business to be a part of moving forward.”

Mark Winthorpe, senior associate, led the Pannone team advising Stobbart’s shareholders. Other team members included Katie Simpson, Arshnoor Amershi and Tom Hall.

Peter Terry, corporate finance partner at accountants Mazars also advised Stobbarts.