James Fisher & Sons (GB:FSJ) has released an update.
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James Fisher & Sons plc has successfully completed the sale of Martek Holdings Limited to Foresight Group and its management for £12.1 million, with the aim of streamlining the company’s portfolio and reducing debt. The sale is part of the company’s strategic focus on core markets and is expected to contribute to lowering the company’s leverage towards their target net debt-to-EBITDA range. Martek, a key player in the distribution of safety and medical equipment to the maritime industry, generated £11.6 million in revenue and £1.4 million in profit before tax last year.
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