A Norfolk-based business that specialises in wind-turbine installation, repair and maintenance services has been acquired by Cumbrian marine-services provider James Fisher & Sons in a deal worth up to £6.5 million.
It has bought Rotos 360 for an initial consideration of £1.5 million in cash — with potential further sums up to £5 million, subject to profit targets for the three years to 31 December 2019.
The King’s Lynn company uses the latest technological innovations to undertake the inspection, repair and re-conditioning of wind-farm rotor blades, primarily in the offshore environment.
It was set up in 2013 as part of a Government-funded research project to reduce the cost of operating and maintaining offshore wind turbines.
Nick Henry, chief executive of James Fisher, said: “The acquisition of Rotos 360 gives us a market-leading capability in wind-turbine blade repair, further broadening our offering in the growing offshore wind-farm sector.
“We are delighted to welcome the Rotos 360 team to the group.”