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James Fisher Buys Martek Holdings, 60% Of MSMC - Quick Facts

James Fisher and Sons plc (FSJ.L), a marine services company, announced Tuesday the acquisition of Martek Holdings Limited and, separately, the acquisition of 60% of the share capital of Murjan Al-Sharq for Marine Contracting LLC or MSMC.

James Fisher has acquired Martek for an initial net cash consideration of 9.0 million pounds, with potential further consideration of up to 1.0 million pounds subject to a profit target for the year ending February 28, 2020.

Rotherham-based Martek provides a range of innovative safety and calibration systems and products to the marine sector. Martek's 2018 profit was 1.8 million pounds and gross assets were 7.2 million pounds.

James Fisher has acquired 60% of MSMC for an initial consideration of 4.1 million pounds in cash, with potential further consideration of up to 4.5 million pounds subject to profit targets for the year ending December 31, 2019.

Kingdom of Saudi Arabia-based MSMC provides near shore marine construction and maintenance services. Profit for 2017 was 1.4 million pounds and gross assets were 10 million pounds.

The 40% minority interest of MSMC has been retained by Abdullah Akbar Natheer who James Fisher will work with to grow MSMC and secure a leadership position in its chosen markets.

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