James Fisher has acquired the entire share capital of Lexmar Engineering Pte Limited and Lexmar Sat Systems Pte Limited (together ‘Lexmar’).
The initial consideration is SGD 17.5 million (USD 13 million) in cash, with further future consideration of up to SGD 9.3 million (USD 7 million) subject to the completion of certain projects, the company said.
Founded in Singapore in 1996, Lexmar is a provider of service and support of diving equipment and saturated diving systems. The company is currently completing three 18 man twin bell saturation diving systems.
Nick Henry, chief executive officer of James Fisher, said: “The acquisition of Lexmar will strengthen our specialist diving equipment services and is well located to access the strategically important Asia Pacific region. We are delighted to welcome Lexmar to the Group.”