Ashtead Technology targets expanded geographical presence with latest purchase

UK-headquartered subsea technology specialist Ashtead Technology has completed the acquisition of the entire share capital of WeSubsea, a provider of subsea dredging technology solutions.

According to Ashtead, the move comes as part of its commitment to expand its geographical presence and grow its capability and service offering to support customers globally.

“I am delighted that we have now completed what is the Group’s sixth acquisition in the past five years. We have acquired an outstanding business and reinforced our commitment to broadening our capability and service offering through M&A to support customers’ operations globally,” said Allan Pirie, CEO of Ashtead Technology.

The UK company announced the acquisition at the beginning of the month.

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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