James Fisher acquires X-Subsea Holdings

12th May 2015 08:01

James Fisher scooped up the Aberdeen-headquartered manufacturer of undersea dredging equipment X-Subsea Holding. The acquisition target went into administration on 27 April 2015 following the collapse of its parent company, Reef Subsea AS.James Fisher will pay a total consideration of £14.8m for the assets and intellectual property rights of the world-leading designer and operator of specialised excavation, trenching and dredging equipment used in sub-sea operations within the oil & gas, telecoms and renewable energy sectors.X-Subsea's equipment and tools are deployed in challenging environments to prevent damage to pipelines, cables, structures and the environment.