Business
Acquisition of Lexmar
Acquisition of Lexmar.
About this update from James Fisher And Sons Plc
[{"type":"text","content":"\n \nRNS Number : 7555F Fisher (James) & Sons plc 01 August 2016 \n\n \n1 August 2016 \n \n \nJAMES FISHER AND SONS PLC (FSJ.L)\n \nACQUISITION OF LEXMAR\n \nJames Fisher (\"James Fisher\" or the \"Group\") announces the acquisition of the entire share capital of Lexmar Engineering Pte Limited and Lexmar Sat Systems Pte Limited (together \"Lexmar\").\n \nThe initial consideration is S$17.5m (£9.8m) in cash, with further future consideration of up to S$9.3m (£5.2m) subject to the successful completion of certain projects. The consideration is based on net cash held by Lexmar at acquisition of S$8.8m (£4.9m). \n \nFounded in Singapore in 1996, Lexmar is a specialist provider of service and support of diving equipment and saturated diving systems. The business is completing three 18 man twin bell saturation diving systems and is complementary to JFD, within our Specialist Technical division. Lexmar's profit after taxation for the year ended 31 December 2015 was S$3.9m (£2.2m) and combined net assets were S$8.9m (£5.0m). \n \nNick Henry, Chief Executive Officer 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. We are delighted to welcome Lexmar to the Group.\"\n \nE C Hambro Rabben & Partners has acted as corporate adviser to James Fisher and Sons plc.\n \n \nContacts:\n \n\n\n\n\nJames Fisher and Sons plc\n\n\nNick Henry\n\n\nChief Executive Officer\n\n\n020 7614 9508\n\n\n\n\nEC Hambro Rabben & Partners\n\n\nEivind Rabben\nPeter Donald\n\n\n \n\n\n020 7355 4100\n\n\n\n\nFTI Consulting\n\n\nRichard Mountain\n\n\n \n\n\n020 3727 1340\n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END ACQDKLFLQDFXBBV\n ","length":3890,"tagName":"div"}]