Ashtead buys subsea dredging solutions provider
Ashtead Technology is expanding its mechanical solutions service offering with the acquisition of WeSubsea, a provider of subsea dredging technology solutions.
The transaction is expected to close during the fourth quarter of the year and will be Ashtead’s sixth acquisition in the past five years.
According to the company, the move comes as part of its commitment to expand its geographical presence and grow its capability and service offering to support customers globally.
WeSubsea, founded in 2010, supports its customers from its operating base in Aberdeenshire, the UK.
“WeSubsea is a pioneering technology business with an excellent reputation and strong customer service ethos. Their fleet of high-performance dredge systems and strong technical know-how will be a great strategic fit for our business and will complement our extensive range of dredging, cutting, coating removal and ROV tooling solutions and services,” said Allan Pirie, Ashtead Technology CEO.
“The acquisition is expected to be completed during Q4 and underlines our ambition to be a global leader in IMR and decommissioning through providing one of the widest subsea equipment and service offerings in these fields to support our customers’ operations across the offshore energy sector.”
Ashtead Technology recently signed a rental agreement with RTS, a provider of electronic engineering equipment for the underwater industry, and invested in new technologies as part of its commitment to the global subsea rental market.
Under the agreement, Ashtead will have access to the RTS-owned equipment fleet to better support its customers globally.
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