Marine company swallows wind farm specialist

Barrow-based marine engineering services provider James Fisher & Sons has acquired wind farm specialist Rotos 360 Ltd for up to £6.5m.

The listed firm has paid an initial £1.5m with potential further considerations of up to £5m subject to profit targets for the three years ending December 31, 2019.

King’s Lynn-based Rotos360 uses the latest technological innovation to provide solutions in the inspection, repair and reconditioning of wind farm rotor blades, primarily in the offshore environment and was established in 2013 as part of a UK Government funded research project to reduce the cost of operation and maintenance of offshore wind turbines.

James Fisher has considerable expertise in the offshore renewables sector and is currently supporting the construction of the Galloper Wind Farm, located off the coast of Suffolk.

James Fisher chief executive Nick Henry said: “The acquisition of Rotos360 provides James Fisher with market leading capability in wind turbine blade repair, further broadening its offering in the growing offshore wind farm sector. We are delighted to welcome the Rotos360 team to the group.”

E C Hambro Rabben & Partners has acted as corporate adviser to James Fisher.