Ashtead Technology Acquires ACE Winches
International subsea equipment rental and solutions specialist Ashtead Technology has further expanded its mechanical solutions service offering with the acquisition of ACE Winches.Established in 1992, ACE Winches’ core offering supports the installation, inspection, maintenance & repair and decommissioning of offshore energy infrastructure which is highly complementary to Ashtead Technology’s existing equipment and services portfolio.ACE Winches is Ashtead Technology’s eighth acquisition in the last six years and follows the group’s acquisitions of Aberdeenshire-based
Balmoral Group sells ACE Winches shareholding to former CEO Alfie Cheyne
Balmoral Group sold its shareholding in ACE Winches to a company led by ACE’s founder and former CEO Alfie Cheyne.As part of Balmoral’s share purchases in 2017 and 2019 the Cheyne family had an option to buy back Balmoral Group’s investment and the deal confirmed today is in line with this agreement. Jim Milne, Chairman and Managing Director of Balmoral Group said: “We have enjoyed working with the management and staff of ACE Winches and wish them all the best for the future.”Cheyne said, “Balmoral has been incredibly supportive to ACE Winches over the last few
Balmoral Invests in Blaze Manufacturing Solutions
Aberdeen engineering outfit Balmoral Group said it has invested a six-figure sum in Blaze Manufacturing Solutions, taking a 70% stake in the Aberdeenshire-based company.This latest move comes after Balmoral significantly raised its shareholding in another Aberdeenshire company, ACE Winches, in November.Blaze, established in 2006 and based in Laurencekirk, manufactures fire safety protection, detection and loss prevention solutions for the oil and gas, renewable energy, mining, commercial and industrial sectors. The company is run by husband and wife team, Ann and Howard Johnson, and currently employs
Balmoral Escalates Renewables Ambition
this platform will open new doors for us and we are excited at the prospect of working with the Seaproof team.” The acquisition comes at a time of growth for Balmoral with the recent opening of its £20 million subsea test center in Aberdeen, as well as a £10 million investment in ACE Winches and the completion of a £10 million state-of-the-art industrial tank manufacturing facility in South Yorkshire in 2017.
ACE Winch Solution for DolWin Topside Float-over
ACE Winches said it has mobilized and installed a winch package for use on the jacket installation and float-over of the DolWin Topside platform, one of the world’s largest high voltage direct current (HVDC) converter platforms, generating enough power to provide approximately 1 million households with clean energy. Measuring 100m in length, 70m wide, standing 90m and weighing approximately 15000te, the platform is located in the German Bight of the North Sea. ACE Winches supplied a winch solution which was used in conjunction with the jacket installation and float-over of the topside
February 2024
