James Fisher acquires Swedish maritime firm

MARINE services group James Fisher & Sons has acquired a Swedish maritime technology firm in a deal worth £5.6m.

Barrow-based James Fisher said it was paying £3.7m in cash for Defence Consulting Europe and a further £1.9m if the business hits profit trarget over the next two years.

Founded in 1997 DCE specialises in marine crafts, particularly swimmer delivery vehicles which are small submersibles used by the military to transport frogmen underwater over long distances.

James Fisher’s chief executive Nick Henry said: “James Fisher Defence has been working in partnership with DCE in recent years to develop the market for swimmer delivery vehicles around the world.  There is a close fit between the two companies and the acquisition broadens our product and service offering.”