James Fisher Offshore, part of James Fisher and Sons, announces that it has reached an agreement with administrators KPMG to acquire a number of subsea assets free from encumbrances from Specialist Subsea Services.
The investment compliments the James Fisher groups’ existing capabilities in the subsea sector to enable the provision of a fully integrated subsea service offering to its customers, including:
Commenting on the transaction Aidan Douglas, Group Operations Director at James Fisher and Sons plc said “I am delighted that we have been able to undertake this investment. These assets represent a further step forward in our ability to provide customers with a comprehensive range of capabilities. James Fisher aims to support customers in simplifying their supply chain as well as further benefiting from a partner that can immediately respond to their needs during the completion of complex subsea projects.”
Where possible James Fisher intends to support existing contracts where these assets are currently deployed and will evaluate further opportunities to realise additional value for stakeholders.
Blair Nimmo, joint administrator and head of restructuring for KPMG in Scotland, said: “We would like to thank everyone involved for their significant efforts in helping to deliver this outcome. We are very pleased to have concluded the sale of these assets to James Fisher Offshore. We wish them every success for the future.”