Information  X 
Enter a valid email address

Fisher (James) (FSJ)

  Print      Mail a friend

Wednesday 06 December, 2017

Fisher (James)

ACQUISITION OF EDS HV GROUP LIMITED

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 £9.0m in cash with potential further consideration of up to £5.6m 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 £1.8m, unaudited profit after tax was £1.2m and unaudited gross assets were £6.0m.

 

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 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
 
END
 
 
ACQEAKAKEEFXFEF

a d v e r t i s e m e n t