Ashtead Technology has announced its intent to expand its mechanical solutions service offering with the planned acquisition of WeSubsea.
Courtesy WeSubsea
Offshore staff
ABERDEEN, UK—Ashtead Technology has announced its intent to expand its mechanical solutions service offering with the planned acquisition of WeSubsea.
The transaction is expected to close during fourth-quarter 2022 and will be the group’s sixth acquisition in the past five years.
Founded in 2010, WeSubsea is a specialist in subsea dredging technology solutions supporting customers globally from its operating base in Aberdeenshire, UK.
The addition of WeSubsea to Ashtead Technology’s portfolio follows recent growth announcements, most notably the company’s IPO on the London Stock Exchange’s Alternative Investment Market in November 2021.
Last month Ashtead Technology signed a rental agreement with Norway-based RTS, a provider of electronic engineering equipment for the underwater industry. Under the deal, Ashtead Technology will have access to RTS’s owned equipment fleet to better support customers globally.
