James Fisher has acquired the entire share capital of Hughes Marine Engineering, the holding company of Hughes Sub Surface Engineering.
The initial consideration is £9 million in cash, with further future consideration of up to £1 million subject to certain profit targets being met by February 28, 2017, James Fisher informed.
Hughes Sub Surface was founded in Liverpool in 2005 to provide commercial diving and civil engineering services to underwater projects.
The business operates in the marine renewables, power generation, oil and gas, and inshore civil engineering sectors.
Nick Henry , Chief Executive Officer of James Fisher, said: “The operations of Hughes Sub Surface are complementary to those of James Fisher and, combined, they will broaden our range of services to the market, particularly to the renewable energy industry offshore.”
James Fisher and Sons is a provider of specialist services to the marine, oil and gas and other high assurance industries worldwide.