06 December 2017
James Fisher announces the acquisition of EDS HV Group Ltd
James Fisher and Sons Plc today announces the acquisition of the entire share capital of EDS HV Group Limited (EDS).
The acquisition of EDS was 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.
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."
For more information, please read the full regulatory news release of the EDS HV Group acquisition.