UNDERWATER CUTTING SOLUTIONS acquired by ASHTEAD TECHNOLOGY

Ashtead Technology announced on 5 September 2019 the acquisition of Underwater Cutting Solutions, the Inverurie-based specialist in mechanical cutting, dredging and coating removal. The purchase extended the group’s inspection, maintenance and repair capabilities and its decommissioning offer, adding cutting technology for subsea and topside pipelines and structures to its equipment and services portfolio. At the time of the deal, UCS employed 35 people and had spent fifteen years developing and deploying its own cutting tools and techniques in the North Sea. General manager Fraser Collis, one of the founders, stayed to run the business from Inverurie and to lead its international expansion within the group, which took Ashtead Technology’s workforce beyond 180 people worldwide. Chief executive Allan Pirie said the addition of UCS underlined the group’s ambition to become a leader in inspection, maintenance and repair and to offer one of the widest ranges of subsea equipment and services in that field. It was Ashtead Technology’s fifth acquisition since Buckthorn Partners and APICORP took control of the group in April 2016, after TES, Forum Subsea Rentals, Welaptega and Aqua-Tech Solutions, and it followed investments in a new facility in Houston and the expansion of its base in Singapore.

By taking control of Underwater Cutting Solutions, Ashtead Technology continues its expansion strategy. Previously, the group had completed 2 acquisitions, including Aqua-Tech Solutions in 2019.