Ashtead Technology Acquires ACE Winches
business, we will continue to strengthen our capabilities in Aberdeenshire whilst leveraging our strong international footprint and infrastructure to drive continued international expansion of our business and deliver Ashtead Technology products and services to a larger global customer base.”Alfie Cheyne, Founder and Chairman of ACE Winches, said: “As well as creating a tremendous opportunity for our people, becoming part of Ashtead Technology will enable us to expand our existing capabilities and international footprint in key regions including the US and the Middle East where Ashtead Technology
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
ACE Winch Solution for DolWin Topside Float-over
supported by Hydraulic Power Units. The specialized equipment, designed and manufactured by ACE Winches was mobilized and installed by a team of engineers and technicians at the start of May 2017, with an ACE operational team to oversee and operate the winch equipment. ACE Winches CEO Alfie Cheyne said, “ACE Winches was delighted to secure a six-figure contract for the DolWin jacket installation and float-over, and having an opportunity to supply a complex winch solution for this large project. With over 25 years-experience designing and manufacturing specialized marine deck
February 2024
