New Wave Media

January 3, 2018

Ashtead Technology, Forum Energy Technologies Complete Joint Venture

Ashtead Technology said it has completed its joint venture with Forum Energy Technologies, Inc., effective January 3, 2018.

As part of the transaction, Forum Energy Technologies contributed its subsea rentals business, which traded as Forum Subsea Rentals, creating an independent provider of subsea survey and remotely operated vehicle (ROV) equipment rental services. 
“With a fleet of 19,000 assets valued in excess of $139 million, and the ability to service all major subsea hubs, we become a business of significant scale and enhanced capability that is well placed to support our customers’ project requirements,” said Allan Pirie, CEO of the combined business, trading as Ashtead Technology.
“We are ready and looking forward to helping address our customers’ challenges head-on.”
Allan PirieAshtead TechnologyForum Energy Technologies Inc.