Fisher extends its reach Down Under

MARINE services firm James Fisher and Sons has announced that its Australian subsidiary, JF Australia Holding Pty Ltd, has bought marine engineering consultancy Maritime Engineers for £1.4m.

Maritime Engineers, which was previously a family-owned consultancy in Western Australia, has ten qualified marine engineers who advise owners of commercial and naval ships, companies working in the offshore energy market, banks and insurance companies.

Barrow-based James Fisher said that the deal complements the existing activities of its Fendercare business in Australia and could lead to it expanding its business elsehwere in the Asia Pacific region. In the year to June 30, Maritime Engineers made a pre-tax profit of £270,000 on sales of £1.1 million. Net assets on the date of completion were £350,000.

Tim Harris, chairman of James Fisher and Sons plc, said: “We have set our sights on expanding our marine service companies in Australia and Asia Pacific. This small acquisition fits neatly into these plans and follows our recent acquisitions of ACM and RigCool.”