A Cumbrian headquartered marine services provider is targeting more work Down Under following the £1.5 million acquisition of a specialist manufacturing company.

James Fisher and Sons Plc, headquartered in Barrow, has acquired the entire share capital of Cowan Manufacturing PTY Limited in Australia.

The New South Wales based business specialises in the design, manufacture, installation and in-service support of transportable recompression chamber systems and other life support equipment for the Australian navy and wider international defence market.

James Fisher chief executive Nick Henry said he was “delighted to welcome the Cowan team to the Group”.

"The acquisition of Cowan broadens the Group's offering to the Australian navy and further enhances our capability within the defence and commercial diving sectors,” he added.

James Fisher was founded in Barrow in 1847 as a ship-owning business transporting haematite from quarries in Cumbria around the world. It now has divisions covering defence, renewable energy, marine and off-shore oil, ports and nuclear. James Fisher Nuclear has a plant in Egremont.

James Fisher has been hot on the acquisitions trail, having acquired Rossendale headquartered electrical engineering specialists EDS HV Group Limited in December.

The company, which focuses on supporting the construction, operation and maintenance of wind farm projects, was bought in a deal initially for £9m but with the potential to increase by £5.6m subject to profit targets up until September 2019.

Changes are also afoot in the James Fisher board room, with chairman Charles Rice due to step down at the group’s annual general meeting in May following a six-year stint in the hot seat.

He is due to be replaced by current senior independent director Malcolm Paul.