John Vaughan, known as Jacky, was born in Worcester on "St Thomas' Day" in 1799, the son of Welsh parents. He worked his way up the iron industry, becoming an ironmaster and co-founder of the largest of all the Victorian iron and steel companies, Bolckow Vaughan. Where Henry Bolckow provided the investment and business expertise, Vaughan contributed technical knowledge, in a long-lasting and successful partnership that transformed Middlesbrough from a small town to the centre of ironmaking in Britain.

Bolckow, Vaughan & Co., Ltd was an English ironmaking and mining company founded in 1864, based on the partnership since 1840 of its two founders, Henry Bolckow and John Vaughan. The firm drove the dramatic growth of Middlesbrough and the production of coal and iron in the north-east of England in the 19th century. The two founding partners had an exceptionally close working relationship which lasted until Vaughan's death.