Ashtead Technology Holdings PLC (AT:L), a leading global provider of subsea technology and solutions to the offshore energy market is pleased to announce the completion of its GBP63m acquisition of Seatronics and J2 Subsea.
The addition of Seatronics and J2 Subsea to the Ashtead Technology group strengthens the company's subsea Survey and Robotics offering, increasing its rental fleet by 30% and adding more than 100 specialist technical employees to the organisation's growing workforce.
With bases in Singapore, UAE, UK and the US, the integration of Seatronics and J2 Subsea further strengthens Ashtead Technology's international reach and global client relationships, ensuring that the combined business is well positioned in strategic geographies.
Allan Pirie, Chief Executive Officer of Ashtead Technology, said:
'We are delighted to complete the acquisition of Seatronics and J2 Subsea. This transaction, the ninth we have completed in the last seven years, continues a remarkable journey of growth for the business. Bringing Seatronics and J2 Subsea into the group will allow us to provide a broader range of technology solutions to our global client base.
'With a relentless focus on innovation, excellence and collaboration, we are proud to be building one of the world's leading subsea technology businesses.'
About Ashtead Technology
Ashtead Technology is a leading subsea equipment rental and solutions provider to the global offshore energy sector. Ashtead Technology's specialist equipment, advanced-technologies and support services enable its customers to understand the subsea environment and manage offshore energy production infrastructure.
Ashtead Technology's offering is applicable across the lifecycle of offshore wind farms and offshore oil and gas infrastructure with over 85% of its equipment fungible across both markets.
Headquartered in the UK, Ashtead Technology operates globally, servicing customers from its fifteen facilities located in key offshore energy hubs.
Contact:
Tel: +44 (0)1603 227019
Email: info@acteon.com
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