James Fisher and Sons plc completes sale of James Fisher Testing Services to... 02 November 2021

02 November 2021

James Fisher and Sons plc (James Fisher) announces the sale of its materials testing business, James Fisher Testing Services (JFTS), to Phenna Group (Phenna) for £5.7million.

James Fisher and Sons plc (James Fisher) announces the sale of its materials testing business, James Fisher Testing Services (JFTS), to Phenna Group (Phenna) for £5.7million.

James Fisher Testing Services operates a number of materials testing laboratories based in Warrington, Harlow and Portlaise, Ireland, in addition to maintaining a team of field based technicians and engineers delivering site-specific services to the construction industry.

The sale of JFTS is consistent with James Fisher's strategy of delivering sustainable, profitable growth through market leading niche businesses in the marine, energy and defence markets.

Phenna, headquartered in Nottingham (UK), aims to invest in, and partner with, selected niche, independent TICC companies that serve a variety of sectors and to afford customers peace of mind by delivering first class assurance services. The acquisition of JFTS allows Phenna to strengthen its fast growing Infrastructure Division in the UK.

Phenna is expected to continue investing in JFTS and its employees, including developing new opportunities through integration into the wider Phenna Infrastructure business in the UK. Phenna Group will continue to operate the company under the James Fisher brand for a short period of time, prior to rebranding in the coming weeks.

Commenting on the divestment, Eoghan O'Lionaird, CEO of 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. In Phenna Group we have a new owner who understands the ambition and potential of JFTS and is positioned to provide it with an exciting future. I wish the fantastic team in JFTS every success on this new and exciting journey and thank them for the contribution they have made in James Fisher."

Paul Barry, Group CEO of Phenna Group added:

"I am very pleased to be adding an excellent business to our Infrastructure Division. The business, its employees and customers complement our Group perfectly and I'm glad that Eoghan and his team have entrusted Phenna Group with its future. Obviously, I'm excited at the opportunities available and look forward to working with the JFTS team to help deliver its future growth plans. I believe our unique culture and operating model will offer it a great home".