James Fisher invests in subsea assets

• James Fisher acquires a number key subsea assets including work-class ROVs, inspection class ROV and survey equipment from Specialist Subsea Services Ltd.
• Compliments existing subsea capability to provide a full service offering to customers.
• Underlines the development of the capabilities as partner of choice in the subsea sector.

James Fisher Offshore Ltd, part of James Fisher and Sons plc, announces that it has reached an agreement with KPMG in Scotland to acquire a number of subsea assets free from encumbrances from Specialist Subsea Services Limited.

The investment further compliments the James Fisher groups’ existing capabilities in the subsea sector to enable the provision of a fully integrated subsea service offering to its customers, including:

• Air, nitrox and saturation diving systems and equipment.
• Diving services.
• Inspection class ROV rental and services.
• Provision of specialist ROV operators and offshore personnel.
• Specialist subsea cranes and grabs.
• Largest subsea winch rental fleets available in the North Sea.
• Subsea excavation services.

Commenting on the transaction Aidan Douglas, Group Operations Director at James Fisher and Sons plc said “I am delighted that we have been able to undertake this investment. These assets represent a further step forward in our ability to provide customers with a comprehensive range of capabilities. James Fisher aims to support customers in simplifying their supply chain as well as further benefiting from a partner that can immediately respond to their needs during the completion of complex subsea projects.”

Where possible James Fisher intends to support existing contracts where these assets are currently deployed and will evaluate further opportunities to realise additional value for stakeholders.

Blair Nimmo, joint administrator and head of restructuring for KPMG in Scotland, said: “We would like to thank everyone involved for their significant efforts in helping to deliver this outcome. We are very pleased to have concluded the sale of these assets to James Fisher Offshore. We wish them every success for the future.”

Adapted from a press release by David Bizley

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/15052015/james-fisher-invests-in-subsea-assets/