Fisher (James) & Sons plc Acquisition of Rotos 360 Limited (1415A)

TIDMFSJ

RNS Number : 1415A

Fisher (James) & Sons plc

22 March 2017

JAMES FISHER AND SONS PLC (FSJ.L)

ACQUISITION OF ROTOS 360 LIMITED

James Fisher and Sons Plc ("James Fisher") announces the acquisition of the entire share capital of Rotos 360 Limited ("Rotos360") for an initial consideration of GBP1.5m in cash, with potential further consideration of up to GBP5.0m subject to profit targets for the three years ending 31 December 2019.

Rotos360 uses the latest technological innovation to provide solutions in the inspection, repair and reconditioning of wind farm rotor blades, primarily in the offshore environment and was established in 2013 as part of a UK Government funded research project to reduce the cost of operation and maintenance of offshore wind turbines.

James Fisher has considerable expertise in the offshore renewables sector and is currently supporting the construction of the Galloper Wind Farm, located off the coast of Suffolk.

Nick Henry, Chief Executive Officer of James Fisher, said: "The acquisition of Rotos360 provides James Fisher with market leading capability in wind turbine blade repair, further broadening its offering in the growing offshore wind farm sector. We are delighted to welcome the Rotos360 team to the Group."

E C Hambro Rabben & Partners has acted as corporate adviser to James Fisher and Sons plc.

Contacts:

 
 James Fisher and                     Chief Executive    020 7614 
  Sons plc           Nick Henry        Officer            9508 
------------------  ---------------  -----------------  --------- 
 EC Hambro Rabben    Eivind Rabben                       020 7355 
  & Partners          Peter Donald                        4100 
------------------  ----------------------------------  --------- 
                     Richard                             020 3727 
 FTI Consulting       Mountain                            1340 
------------------  ----------------------------------  ---------

This information is provided by RNS

The company news service from the London Stock Exchange

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March 22, 2017 03:00 ET (07:00 GMT)

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