Prolec, Mimic and Strainstall each hold leading positions in their respective markets, but the Board has concluded that they will be better able to continue their development outside of James Fisher, in line with the Group’s previously stated strategy to rationalise and focus the Group’s portfolio.
Sale of Prolec
Prolec provides productivity and safety systems to the construction equipment industry and is based in Poole and Southampton.
Lifco AB has grown through the acquisition of small and medium-sized businesses in specific niche areas including the construction market. At the end of 2021 it consisted of 198 operating companies in 31 countries. As well as complementing Prolec’s expertise with its well-known name in the sector, Lifco has a long-term investment profile.
Sale of Mimic and the UK operations of Strainstall
Mimic and Strainstall are specialists in their areas of asset and load monitoring, with sites in Bristol, Warrington, the Isle of Wight and Manchester.
In recent years, the BES Group has focused on adding businesses to its portfolio that complement its extensive range of engineering services. BES Group is a specialist in testing, inspections and certification. Mimic and Strainstall will continue to operate under the James Fisher brand for a short period. Our Strainstall Middle East, Strainstall Malaysia and Strainstall Singapore teams and customers will stay with James Fisher.
Commenting on the sales, Jean Vernet, CEO James Fisher and Sons plc, said:
“The sale of Prolec, Mimic and the UK operations of Strainstall represent a clear demonstration of our strategy to rationalise and focus the portfolio, as well as strengthening our financial position. We believe the transactions represent good value for James Fisher’s shareholders and in BES and Lifco, we have found buyers of quality. We wish them and the staff at each of the businesses continued success and thank them for their hard work and dedication to James Fisher over many years.”
