James Fisher has acquired the entire share capital of Mojo Maritime.
The initial consideration is GBP 3.2 mln in cash, plus potential future consideration of GBP 0.3 mln if the earnings before interest and taxation are GBP 0.65 mln or greater for the year ending December 31, 2015.
Mojo Maritime, a Falmouth-based company, is a provider of consultancy and design services in the offshore renewable energy sector.
It is involved in foundation design, installation methodology and project planning, as well as designing and developing products aimed at reducing risk and cost of working offshore.
Mojo Maritime’s CEO, Richard Parkinson, and his team will continue to work with the company.
Nick Henry , Chief Executive Officer of James Fisher, said: “The acquisition of Mojo Maritime Ltd will strengthen our expertise and abilities in servicing the offshore renewables sector. We are delighted to welcome Richard and his team to our Group.”
Mojo Maritime has sub-contract with James Fisher Marine Services worth approximately GBP 1.2 mln to work together on the construction phase of the MeyGen Inner Sound tidal project.
James Fisher and Sons plc is a provider of specialist services to the marine, oil and gas and other high assurance industries worldwide.
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Image: Mojo Maritime