James Fisher & Sons continues buying spree with X-Subsea acquisition

James Fisher & Sons continues buying spree with X-Subsea acquisition

London: James Fisher & Sons has paid £14.8m ($23.1m) for the assets and intellectual property rights of X-Subsea, a designer and operator of specialised excavation, trenching and dredging equipment.

X-Subsea went into administration on April 27, after the collapse of parent company Reef Subsea, and was the main competitor of James Fisher Mass Flow Excavation.

Nick Henry, CEO of James Fisher, said: “The transaction strengthens and consolidates our position in subsea services, and will enable James Fisher to become the global leader in mass flow excavation.”

Last week James Fisher paid £3.2m in cash to acquire Mojo Maritime, which provides consultancy and design services to the offshore renewable energy sector. In March it acquired Subtech Group, a South Africa-based marine and sub-sea service provider, for an initial cash consideration of ZAR61.0m ($5.18m).

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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