Acquisition

RNS Number : 1003A
Fisher (James) & Sons plc
03 June 2016
 

3 June 2016

 

 

JAMES FISHER AND SONS PLC (FSJ.L)

 

ACQUISITION OF RETURN TO SCENE LIMITED

 

James Fisher ("James Fisher" or the "Group") announces the purchase of Return to Scene Limited ("R2S") for consideration of £1.9m.  Headquartered in Aberdeen, R2S was a subsidiary of SeaEnergy Plc which went into administration on 2 June 2016.  Further consideration of £0.1m is payable should R2S win certain contracts before 31 December 2016.

 

R2S provides visual asset management photographic capture services, digital media services and forensic services to the oil & gas and security sectors.  The audited accounts of R2S for the year ended 31 December 2014 reported turnover of £4.7m and operating profit of £2.2m.  The unaudited management accounts for the year ended 31 December 2015 reported an operating loss of £0.5m.

 

Nick Henry, Chief Executive Officer of James Fisher, said: "R2S provides digital services to many of our existing customers and has potential to work in our wider sector and geographical base.  We look forward to R2S joining the James Fisher Group."

 

EC Hambro Rabben & Partners 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

 

0203 727 1340

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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