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James Fisher acquires wind turbine inspection company Rotos 360

Published 23 March 2017

UK-based marine engineering services provider James Fisher has acquired Rotos 360, a wind turbine inspection and repair company, for £6.5m.

In a regulatory filing with the London Stock Exchange, James Fisher stated that it will initially pay £1.5m in cash. The deal also includes a payment of up to  £5m, subject to achieving profit targets by the end of 2019.

Rotos 360 was established in 2013 as part of the research project funded by the UK Government to reduce the cost of operations and maintenance of offshore wind turbines.

With the acquisition, James Fisher aims to access Rotos 360’s expertise in blade repair techniques, which are claimed to have reduced the downtime of wind turbines.

The expansion is also expected to benefit James Fisher's customers through supply chain optimisations and reduction in contractual interface risks. The combination of assets and resources is expected to support renewables projects around the UK, helping to deliver improved responsiveness and reduced costs.

James Fisher CEO Nick Henry said: “The acquisition of Rotos 360 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 Rotos 360 team to the Group.”

Rotos 360 operations director John Galliford said: “I’m delighted that Rotos 360 is joining the James Fisher group.

“The opportunities this affords us, to increase the scope and scale of the projects we undertake for customers through access to the Group’s wider resources, is huge.”

Last year, James Fisher acquired Hughes Sub Surface Engineering, a specialist diving, subsea and marine project company for £2.6m.

It also acquired Lexmar for a consideration of £19.1m. Lexmar is a specialist provider of service and support for diving equipment and saturated diving systems.