6th May 2015 06:42
LONDON (Alliance News) - Maritime engineering company James Fisher & Sons PLC on Wednesday said it has struck a deal to acquire Cornwall-based Mojo Maritime Ltd.
Under the terms of the deal, FTSE 250-listed James Fisher will pay GBP3.2 million in cash initially, with a further GBP0.3 million due based on Mojo Maritime meeting earnings targets.
Mojo Maritime is a Falmouth-based company which provides consultancy and design services to the offshore renewable energy sector.
The two companies currently have a contract in place under which Mojo is working with James Fisher Marine Services on the construction phase of the MeyGen Inner Sound tidal energy project.
"The acquisition of Mojo Maritime will strengthen our expertise and abilities in servicing the offshore renewables sector," said James Fisher Chief Executive Nick Henry.
By Sam Unsted; [email protected]; @SamUAtAlliance
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