Marine engineer hands Jefferies broking mandate

The company said in an August 10 statement to the London Stock Exchange that it had appointed Jefferies International with immediate effect.

The firm replaces N+1 Singer to become joint broker alongside Investec, according to people familiar with the situation. N+1 Singer had been a broker to the company since 2013, according to analysis of James Fisher & Sons’ past annual reports, while Investec has been working with the company since 2006.

James Fisher & Sons has a track record of dealmaking, having made five acquisitions in 2015 and two so far in 2016.

Its latest deal, announced in August, was the acquisition of Lexmar, a Singapore-based diving equipment maker, for £15 million. The company was advised on that deal, and many of its others over recent years, by E C Hambro Rabben & Partners.

According to a June report from Adviser Rankings, Jefferies had 31 FTSE 250 broking clients as of May 2016, ranking third behind Numis Securities and JP Morgan Cazenove.

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