Ashtead Acquires Aqua-Tech Solutions
Ashtead Technology announced Wednesday it has acquired Louisiana based subsea equipment rental and cutting services specialist, Aqua-Tech Solutions.
According to Ashtead Technology, the combined business will offer clients in the Gulf of Mexico region a more robust and enhanced offering, allowing more timely and cost-effective access to the group’s full range of equipment and services from locations in Broussard and Houma, La.
Ashtead Technology said the acquisition strengthens its remotely operated underwater vehicle (ROV) and mechanical tooling offering, broadening its survey sensor rental fleet. It also sees the firm’s specialist subsea services capability extended with the introduction of subsea cutting equipment.
Ashtead Technology chief executive, Allan Pirie said, “This acquisition enables us to provide our full equipment and service capability right where our clients require it, at their project mobilization locations at ports across the Gulf of Mexico coast.
“Aqua-Tech Solutions is a strong fit with our strategic goal to increase the group’s equipment and services to match customer demand. At the same time, it solidifies our established subsea solutions fleet in support of our clients’ long-term successes around the world.”
Aqua-Tech Solutions president, Jared Deculus said, “The opportunities offered by becoming part of the Ashtead Technology group will enable us to deliver a broader range of equipment and project services to our clients. It also opens us up to wider international market prospects where clients are looking for the range of specialist cutting equipment and personnel we can provide.”
This latest transaction is the fourth deal completed by Ashtead Technology since the business was acquired by Buckthorn Partners and APICORP in April 2016.