Last checked at 18 Mar 2014 07:00
18 March 2014
JAMES FISHER AND SONS PLC
ACQUISITION OF DEFENCE CONSULTING EUROPE AB
James Fisher & Sons Plc (FSJ.L) ('James Fisher'), the leading Marine Services business, today announces the acquisition of the entire share capital of Defence Consulting Europe AB ("DCE") for an initial consideration of £3.7m in cash. Further consideration of up to £1.9m is payable contingent on certain turnover and profit targets for the period until June 2016.
DCE provides a range of specialist swimmer delivery vehicles which are complementary to those developed by James Fisher Defence. DCE was established by Fredrik Hillelsson in 1997 and is based in Sweden.
Nick Henry, Chief Executive Officer of James Fisher, said:
"James Fisher Defence has been working in partnership with DCE in recent years to develop the market for swimmer delivery vehicles around the world. There is a close fit between the two companies and the acquisition broadens our product and service offering."
E C Hambro Rabben & Partners has acted as corporate adviser to James Fisher and Sons plc
Contacts:
James Fisher and Sons plc | Nick Henry | Chief Executive Officer | 020 7614 9508 |
EC Hambro Rabben & Partners | Eivind Rabben Peter Donald |
| 020 7355 4100 |
FTI Consulting | Richard Mountain |
| 020 3727 1374 |