James Fisher and Sons : announces sale of James Fisher NDT Ltd to IRISNDT Ltd. 05 January 2022

05 January 2022

James Fisher and Sons plc announces the sale of its non-destructive testing business, James Fisher NDT (JF NDT), to IRISNDT Ltd.

The sale of JF NDT is consistent with James Fisher's strategy of focusing on market leading niche businesses in marine, energy and defence markets.

IRISNDT Ltd, headquartered in Immingham, is a market-leading provider of advanced NDT services, as well as inspection, integrity engineering, robotics, heat treatment and rope access services. Founded in 1953, it is a global business with substantial presence in the UK, US, Canada and Australia. JF NDT will assist IRISNDT Ltd. in broadening its customer base in the UK to include customers in the nuclear, defence and aerospace sectors, as well as bringing with it a state-of-the-art laboratory and a broad scope of accreditation.

As part of the agreed terms of sale, all current employees at JF NDT will transfer with the businesses. IRISNDT will continue to operate JF NDT under the James Fisher brand for a short period of time, prior to rebranding in the coming months. As the JF NDT business is integrated into IRISNDT's existing UK operations, this is expected to create wider opportunities for all staff.

Commenting on the divestment, Robin Stopford, Divisional Managing Director of Digital and Data Services at James Fisher and Sons plc, said:

"We are committed to refocusing the James Fisher portfolio on niche sectors within our chosen markets in order to deliver sustainable profitable growth. Huge credit must be given to Katy Maynard and her team who have transformed JF NDT in the past two years. In IRISNDT we are passing the business to a new custodian with an excellent track record of investing in their employees and in their businesses who will be able to support the ambition and potential of JF NDT."

Roman Kyrnyckyj, IRISNDT UK Managing Director, added:

"We welcome James Fisher NDT, its employees and customers to the IRISNDT family. I believe James Fisher NDT to be a great fit for us and together we will become an industry leader in the North-West. We are also excited about adding the component testing division and Nadcap accreditation. IRISNDT is in growth mode, focused on strengthening our services portfolio in the Renewable and Energy markets, and we continue to evaluate attractive add-on acquisition opportunities."