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Bids, Mergers and Takeovers

James Fisher acquires Rotos 360

22 March 2017 07:55

James Fisher and Sons has acquired Rotos 360 Limited for an initial consideration of £1.5m in cash, with potential further consideration of up to £5.0m subject to profit targets for the three years ending 31 December 2019.

Rotos360 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.

The company uses the latest technological innovation to provide solutions in the inspection, repair and reconditioning of wind farm rotor blades.

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.

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."

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