James Fisher acquires Subsea Vision

James Fisher and Sons has acquired Subsea Vision, which specialises in providing remotely operated vehicles (ROVs) for underwater projects, in a £2.5m deal.


The Cumbrian-headquartered marine services business said the purchase of Subsea Vision added to its marine support services division. Subsea operates from Wimborne in Dorset.


Subsea owns and operates five ROV systems and provides underwater surveys, inspections and construction support to the oil and gas industry including floating, production, storage and offtake vessels.


It was founded in 2002 and in the year to 31 March 2013 posted pre-tax profit of £400,000. Its net assets at that date were £700,000.


Chief executive Nick Henry said: "The acquisition of Subsea Vision is a further step in our growth, providing niche specialist services for the offshore energy sector."


E C Hambro Rabben & Partners has acted as corporate adviser to James Fisher and Sons.