James Fisher acquires X-Subsea Holdings
James Fisher scooped up the Aberdeen-headquartered manufacturer of undersea dredging equipment X-Subsea Holding.
Fisher (James) & Sons
343.00p
16:34 01/11/24
0.88%
3.00p
FTSE 250
20,479.74
17:14 01/11/24
n/a
n/a
FTSE 350
4,508.38
17:14 01/11/24
n/a
n/a
FTSE All-Share
4,465.61
16:54 01/11/24
n/a
n/a
Industrial Transportation
4,240.85
17:14 01/11/24
0.95%
39.87
The acquisition target went into administration on 27 April 2015 following the collapse of its parent company, Reef Subsea AS.
James Fisher will pay a total consideration of £14.8m for the assets and intellectual property rights of the world-leading designer and operator of specialised excavation, trenching and dredging equipment used in sub-sea operations within the oil & gas, telecoms and renewable energy sectors.
X-Subsea’s equipment and tools are deployed in challenging environments to prevent damage to pipelines, cables, structures and the environment.