Ashtead Technology completes acquisition of WeSubsea
27 September 2022
International subsea rental equipment and solutions specialist Ashtead Technology has announced the completion of its acquisition of WeSubsea, further expanding its mechanical solutions service offering.
The transaction is the Group’s sixth acquisition in the past five years, demonstrating its commitment to expanding its geographical presence and growing its capability and service offering to support customers globally.
Founded in 2010, WeSubsea is a specialist in subsea dredging technology solutions to the global offshore energy industry.
Allan Pirie, Ashtead Technology’s CEO, said: “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 are a great strategic fit for our business and complement our extensive range of dredging, cutting, coating removal and ROV tooling solutions and services.”
“The acquisition underlines our ambition to be a global leader in IMR and decommissioning services and reinforces our commitment to broadening our capability and service offering through M&A to support our customers’ operations globally.”
The addition of WeSubsea to Ashtead Technology’s portfolio follows recent growth announcements, most notably the company’s IPO on the London Stock Exchange’s Alternative Investment Market (AIM) in November 2021.