James Fisher and Sons has acquired blade repair outfit Rotos 360 for an initial cash consideration of £1.5m.
The deal could be worth a further £5m subject to profit targets for the three years ending 31 December 2019.
Rotos360 inspects, repairs and reconditions wind farm rotor blades, primarily in the offshore market.
It was established in 2013 as part of a UK government funded research project to reduce the cost of operation and maintenance of offshore turbines.
James Fisher chief executive Nick Henry said: “The acquisition of Rotos360 provides James Fisher with market leading capability in wind turbine blade repair, further broadening its offering in the growing offshore wind farm sector.”
EC Hambro Rabben & Partners was corporate adviser to James Fisher and Sons.
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