James Fisher and Sons Acquires Wind Farm Rotor Blade Inspector Rotos 360.
M2 EQUITYBITES-March 23, 2017-James Fisher and Sons Acquires Wind Farm Rotor Blade Inspector Rotos 360
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23 March 2017 - UK-based marine engineering services company James Fisher and Sons Plc (LSE: FSJ) has acquired the entire share capital of UK-based wind farm rotor blade inspector Rotos 360 Ltd. for an initial consideration of GBP 1.5m (USD 1.88m) in cash, the company said.
The deal includes potential further consideration of up to GBP 5m subject to profit targets for the three years ending 31 December 2019.
Rotos360 provides 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 experience in the offshore renewables sector and is currently supporting the construction of the Galloper Wind Farm, located off the coast of Suffolk.
E C Hambro Rabben and Partners has acted as corporate adviser to James Fisher and Sons plc.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Mar 23, 2017|
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