Aberdeenshire subsea technology firm expands with major acquisitions

Acquisition of Seatronics and J2 Subsea enhances Ashtead's capabilities and workforce.

In a significant move within the subsea technology sector, Ashtead Technology, based in Westhill, Aberdeenshire, has successfully acquired two Aberdeen-based companies, Seatronics and J2 Subsea, for a total of £63 million. This strategic acquisition marks a pivotal moment for Ashtead, as it continues to enhance its service offerings and expand its operational footprint.

Details of the acquisition

Seatronics, recognized as a leading supplier of electronic subsea equipment, and J2 Subsea, which specializes in tooling products and services for remotely operated vehicles (ROVs), will now operate under the Ashtead Technology umbrella.

This acquisition not only broadens Ashtead’s technological capabilities but also significantly boosts its workforce, adding over 100 new employees and tripling its staff numbers within the past year.

Growth and expansion strategy

Allan Pirie, the CEO of Ashtead Technology, expressed his enthusiasm about the acquisition, stating, “We are delighted to complete the acquisition of Seatronics and J2 Subsea. This transaction, the ninth we have completed in the last seven years, continues a remarkable journey of growth for the business.” The integration of these companies is expected to enhance Ashtead’s ability to provide a wider range of technology solutions to its global clients, thereby strengthening its position in the international subsea survey and robotics market.

Future plans and new initiatives

To support this growth trajectory, Ashtead Technology is also in the process of establishing a new hub in Kintore. This facility will serve as a global center of excellence for asset integrity solutions, ROV, and diver tooling. With operations spanning across key locations such as Aberdeen, Abu Dhabi, Houston, and Singapore, the company is poised to leverage its expanded capabilities to meet the growing demands of the subsea industry.

In addition to the acquisition, Ashtead recently appointed Colin Ross to a newly created role within the company, where he will lead corporate strategy, marketing, and communications. This move is part of Ashtead’s broader strategy to grow both organically and through further acquisitions, as evidenced by its recent £53.5 million purchase of Ace Winches last year.

As Ashtead Technology continues to innovate and expand, it is set to become one of the world’s leading subsea technology companies, boasting a rental fleet of nearly 30,000 assets and a dedicated team of almost 700 employees. The company’s relentless focus on excellence and collaboration positions it well for future success in the dynamic subsea technology landscape.