British marine engineering outfit James Fisher has bought Singaporean firms Lexmar Engineering and Lexmar Sat Systems.
The initial consideration is S$17.5m (13m) in cash, with a further future consideration of up to S$9.3m subject to the successful completion of certain projects.
Founded in Singapore in 1996, Lexmar is a specialist provider of service and support of diving equipment and saturated diving systems.
Nick Henry, ceo of James Fisher, said: “The acquisition of Lexmar will strengthen our specialist diving equipment services and is well located to access the strategically important Asia Pacific region.”
