Ashtead expands in Middle East with new acquisition
Ashtead Technology, a provider of subsea technology and equipment, has acquired Abu Dhabi-based TES Survey Equipment Services LLC for an undisclosed sum.
Ashtead said on Thursday that the acquisition would enable the company to increase its customer service offering in the Middle East, a region which Ashtead sees as having strong growth potential.
TES Survey Equipment Services, established in 2007 by Susan Murray who will remain as head of the company, sells and rents a range of environmental, geophysical, survey and ROV equipment.
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. 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.”
Murray added: “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.”
TES has been Ashtead Technology’s agent in the Middle East since 2012. As Ashtead’s agent, the company was in charge of promoting the company’s full rental equipment range to its customers in the region.