John Laing was originally established in 1848 as a building company based in Carlisle, in the North West of England. It grew to become a major construction company in the United Kingdom and internationally, working on assets as diverse as the M1 motorway, Sizewell B nuclear power station and Coventry Cathedral. In 1953, John Laing plc was listed on the London Stock Exchange.
The company made its first infrastructure investment in 1969 in a toll road in Spain (the 65km Europistas project) and its first PPP investment in 1990 in a cable-stayed river crossing linking England and Wales (the Second Severn River Crossing project).
In 2001, John Laing redefined its strategy to focus solely on social infrastructure assets for Governmental Entities with a particular emphasis at that time on the UK Private Finance Initiative. In line with this strategy, the Group sold its construction activities to O’Rourke (now Laing O’Rourke), followed by the sale of its house building activities to George Wimpey plc, and the sale of its property development business to Kier. The company has not been involved in building and construction itself since 2002.
In early 2007, John Laing plc was taken private by the Henderson Funds. Since that time, it has continued to develop its primary infrastructure activities by expanding internationally and into new sectors and has further divested its non-core activities, including Chiltern Railways and, more recently, its facilities management business.
The company also created a significant external asset management platform with the launch of two listed secondary infrastructure funds (JLIF in 2010 and JLEN in 2014). Whilst JLIF was acquired and taken private by funds managed by Dalmore Capital and Equifax in 2018 and renamed JURA Infrastructure Limited (JURA). JLCM continues to provide investments management services to JLEN and JURA through JLCM, earning fee income.
John Laing's history
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