James Fisher and Sons has acquired a 60% stake in Continental Participação E Administração, the holding company of Brazilian subsea specialist Serviços Marítimos Continental.
Continental is an air diving service provider to the offshore sector in Brazil, providing inspection, repair and maintenance services.
James Fisher is paying £7.5m ($9.1m) for the stake, £4.9m payable on completion and £2.6m payable in January 2022.
Nick Henry, CEO of James Fisher, commented: “The acquisition of Continental in Brazil increases our presence in this important and growing market for subsea services. The combination of Continental’s reputation for safety and reliable service delivery and James Fisher’s more extensive IRM capabilities provides strong opportunities in one of the Group’s key geographic growth markets.”
