Sector News

John Fisher and Sons Agree Multi Million Pound Takeover

February 12, 2015
A Cumbrian firm has acquired a company specialising in hyperbaric testing chambers in a multi-million pound takeover.
James Fisher and Sons, based in Barrow-in-Furness, have taken over National Hyperbaric Centre Limited, based in Aberdeen, Scotland (“NHC”) for £4.5 million, based on £3.5 million cash plus £1 million from future contracts.
NHC creates testing equipment that is used in the subsea industry and will become a division of James Fisher and Sons, now to be known as JFD.
NHC are involved in a number of different activities such as reception of personnel for decompression, subsea equipment testing, training services to the diving industry and hyperbaric welding trials to international customers.
The current owner and MD of NHC will step down, but all other employees will remain within the business.
Managing Director of JFD, Mike Howarth, said: “I am delighted with the acquisition of NHC, which further extends our range of services to the subsea industry and consolidates our world leading position in the design, manufacture, testing and operation of hyperbaric reception facilities and other subsea equipment.”
By Joshua Hammond
Source: In Cumbria

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