James Fisher has snapped up Singaporean dive specialist Lexmar in a £9.8m ($12.97m) deal.
London-listed James Fisher has purchased both Lexmar Engineering and Lexmar Sat Systems, a statement said.
Nick Henry, chief executive of James Fisher, said the acquisition will strengthen the company’s specialist diving equipment services and is well located to access the strategically important Asia Pacific region.
Lexmar booked a pre-tax profit of £2.2m in 2015 and finished the year with assets of £5m.
E C Hambro Rabben & Partners advised James Fisher on the deal.
Henry could not be reached for additional comment this morning.
Shares in the UK shipowner were trading down marginally at £14.93 each this morning.
