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

 

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