High-voltage deal for James Fisher
Specialist engineer EDS acquired for initial cash payment of £9m
James Fisher and Sons has acquired UK high voltage engineering specialist EDS HV Group for an initial consideration of £9m in cash.
A further payment of up to £5.6m will also be paid, subject to profit targets for the two years ending 30 September 2019.
EDS provides a range of services for the renewables sector covering the design and installation stages of new wind farm construction projects through to monitoring-fault management, repair and maintenance.
James Fisher chief executive Nick Henry 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.”
EC Hambro Rabben & Partners acted as corporate adviser to James Fisher and Sons on the deal.
Image: James Fisher and Sons