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Barrow-in-Furness engineering firm James Fisher acquires collapsed company for £14.8m

A Barrow-in-furness company has rescued X-Subsea Holding’s, where 20 jobs were lost when its parent company collapsed.

James Fisher has acquired the company, which was the main competitor for James Fisher Mass Flow Excavation, for £14.8m.

It is the latest acquisition for the engineering company following the purchase of a South African company for £18m in March.

Chief executive officer of James Fisher, Nick Henry, said: “The transaction strengthens and consolidates our position in subsea services, and will enable James Fisher to become the global leader in mass flow excavation.”

EC Hambro Rabben & Partners acted as corporate adviser to James Fisher and Sons plc.

This was posted in Bdaily's Members' News section by Sophia Taha .