AQUA-TECH SOLUTIONS acquired by ASHTEAD TECHNOLOGY

Ashtead Technology announced on 24 April 2019 the acquisition of Aqua-Tech Solutions, the Louisiana-based subsea equipment rental and cutting services specialist, as part of its growth plans in the United States. The purchase gave clients in the Gulf of Mexico quicker and more cost-effective access to the group’s full range of equipment and services, from locations in Broussard and Houma. The deal strengthened Ashtead Technology’s ROV and mechanical tooling offering, broadened its survey sensor rental fleet and added subsea cutting equipment to its specialist services. Chief executive Allan Pirie said he was pleased to welcome the Aqua-Tech Solutions team and to expand the group’s operations in Louisiana. It was the fourth acquisition completed since Buckthorn Partners and APICORP took control of Ashtead Technology in April 2016, and it took the group to around 160 people across its facilities in the United Kingdom, the United Arab Emirates, Canada, Singapore and the United States. The deal came a few months after Ashtead Technology announced a partnership with 4Subsea to offer its retrofittable autonomous sensors to the oil and gas industry.