Fisher hooks offshore turbines firm

Marine services company James Fisher and Sons has snapped up an offshore wind turbine specialist in a potential £6.5million deal.

Fisher, which owns a string of businesses in the north-east, said yesterday its acquisition of Norfolk-based Rotos 360 would bolster its credentials for offshore renewables projects UK-wide.

Rotos 360 is focused on the installation, repair and maintenance of wind turbine blades.

It was established in 2013 as part of a UK Governmentfunded research project to reduce the cost of operation and maintenance of offshore windfarms.

Fisher said it was buying the firm for an initial £1.5million but the acquisition value could soar by a further £5million if profit targets are met.

Announcing the deal, Fisher chief executive 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 windfarm sector.”