James Fisher and Sons has acquired the entire share capital of Lancashire-based EDS HV Group (EDS).
The company acquired EDS for an initial consideration of £9.0 million in cash with potential further consideration of up to £5.6 million subject to profit targets for the two years ending September 30, 2019.
EDS provides a complete range of high voltage engineering services to the renewables industry, covering the design and installation stages of new wind farm construction projects through to the subsequent monitoring-fault management, repair and maintenance of the operating assets.
Nick Henry, chief executive officer of James Fisher, said: “The acquisition of EDS provides James Fisher with sector leading high voltage engineering capability, further broadening the group’s offering to the offshore wind farm sector. We are delighted to welcome the EDS team to the group.”
EC Hambro Rabben & Partners has acted as corporate adviser to James Fisher and Sons.