UK shipping James Fisher and Sons has made a foray into Australia with the acquisition of Cowan Manufacturing.
It is paying AUD 2.6m ($2.06m) in cash for the New South Wales-based maker of transportable recompression chamber systems and other life support equipment.
Cowan has contracts with the Australian navy and also sells to the wider international defence market.
Fisher CEO Nick Henry said: "The acquisition of Cowan broadens the group's offering to the Australian navy and further enhances our capability within the defence and commercial diving sectors. We are delighted to welcome the Cowan team to the group."
The takeover follows one in December for windfarm engineering company EDS HV Group for an initial £9m ($12m) in cash.
