Fisher (James) & Sons plc ACQUISITION OF EDS HV GROUP LIMITED (5237Y)

TIDMFSJ

RNS Number : 5237Y

Fisher (James) & Sons plc

06 December 2017

Embargoed for release

7am on [6 December 2017]

JAMES FISHER AND SONS PLC (FSJ.L)

ACQUISITION OF EDS HV GROUP LIMITED

James Fisher and Sons Plc ("James Fisher" or "the Group") announces the acquisition of the entire share capital of EDS HV Group Limited ("EDS") for an initial consideration of GBP9.0m in cash with potential further consideration of up to GBP5.6m subject to profit targets for the two years ending 30 September 2019.

EDS, headquartered in Rossendale, Lancashire, provides a complete range of high voltage engineering services to the renewables industry, covering the design and installation stages of new wind farm construction projects through to the subsequent monitoring-fault management, repair and maintenance of the operating assets. Adjusted earnings before interest, tax, depreciation and amortisation of EDS for the year ended 30 September 2017 were GBP1.8m, unaudited profit after tax was GBP1.2m and unaudited gross assets were GBP6.0m.

Nick Henry, Chief Executive Officer of James Fisher, said: "The acquisition of EDS provides James Fisher with sector leading high voltage engineering capability, further broadening the Group's offering to the offshore wind farm sector. We are delighted to welcome the EDS team to the Group."

EC 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                             0203 727 
 FTI Consulting       Mountain                            1340 
------------------  ----------------------------------  ---------

This information is provided by RNS

The company news service from the London Stock Exchange

END

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December 06, 2017 02:00 ET (07:00 GMT)

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