Ashtead Expands in Middle East with Acquisition of TES
- Project & Tenders
Ashtead Technology has acquired Abu Dhabi based TES Survey Equipment Services for an undisclosed sum.
The acquisition will enable the company increase its customer service offering in the Middle East.
Established in 2007 by Susan Murray, TES Survey Equipment Services sells and rents environmental, geophysical, survey and ROV equipment. Susan will continue to lead the business, Ashtead informed.
Allan Pirie, chief executive of Ashtead Technology said: “TES is a quality business with a strong client service ethos which is a great fit for Ashtead. Having been our agent in the Middle East for the past five years, we know and respect the team. As a result of this deal, we will be able to roll-out our full service offering to clients in the region.”
“The acquisition represents a significant step forward in the execution of our strategy to expand both our services and geographical reach. This step will enhance our ability to serve our clients following new investment in our business by Buckthorn Partners and the Arab Petroleum Investments Corporation (APICORP) earlier this year.”
Susan Murray said: “The combination of TES’s regional knowledge and support combined with Ashtead’s resources will provide clients across the Middle East region with unrivalled access to market leading technologies and technical knowledge. This is an exciting new chapter for our business which will enable our clients to deliver on increasingly challenging work scopes with the confidence of enhanced local support.”
The transaction is subject to customary regulatory approvals, Ashtead added.