Acquisition

RNS Number : 0897K

Fisher (James) & Sons plc

20 June 2014

 



20 June 2014

JAMES FISHER AND SONS PLC

ACQUISITION OF TESTCONSULT LIMITED

James Fisher ("FSJ.L) ("James Fisher") announces the acquisition of the entire share capital of Testconsult Limited and its subsidiaries for a total cash consideration of £8.0m.

Testconsult is a market leading provider of monitoring, instrumentation and testing services and also designs and produces specialist testing equipment used in over 70 countries worldwide.  Testconsult will extend and complement the range of services provided by James Fisher's Strainstall Monitoring business. Strainstall uses strain gauges and sensors to provide structural monitoring and dynamic load testing of bridges, other structures and offshore installations. 

Earnings before interest, taxation, depreciation and amortisation (EBITDA) was £1.4m for the year ended 31 March 2014.  Net assets at 31 March 2014 were £2.9m.

Nick Henry, Chief Executive Officer of James Fisher, said: "We are delighted to welcome Testconsult into the James Fisher group and we look forward to benefitting from the enlarged opportunity which the combination of Strainstall Monitoring and Testconsult will present, expanding our activities in testing and monitoring with complementary skills, products and services.  We intend to build on our combined strengths, particularly in international markets".

E C 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 1374

 

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