Ashtead Technology to Acquire Subsea Dredging Firm WeSubsea
UK-subsea rental equipment and solutions specialist Ashtead Technology said Monday it planned to acquire WeSubsea to expand its mechanical solutions service offering.
Founded in 2010, WeSubsea is a specialist in subsea dredging technology solutions with its operating base in Aberdeenshire, UK.
Ashtead Technology said that the transaction is expected to close during Q4 of 2022. This will be the group’s sixth acquisition in the past five years.
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 will be a great strategic fit for our business and will complement our extensive range of dredging, cutting, coating removal and ROV tooling solutions and services.
“The acquisition is expected to be completed during Q4 and underlines our ambition to be a global leader in IMR and decommissioning through providing one of the widest subsea equipment and service offerings in these fields to support our customers’ operations across the offshore energy sector.”
Ashtead Technology did not share the financial details of the planned acquisition.