Aberdeen-based Ashtead Technology has bought Louisiana subsea equipment rental and cutting services specialist Aqua-Tech Solutions.
The move is part of the firm's growth in the Gulf of Mexico region offering clients access to equipment and services from bases in Broussard and Houma, Louisiana.
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It strengthens Ashtead Technology as a global leader in subsea equipment rental and project services, broadening its offering of ROVs, survey sensor rental and subsea cutting equipment.
The acquisition is the fourth completed by Ashtead Technology since the business was acquired by Buckthorn Partners and APICORP in April 2016.
The agreement firmly establishes the company’s position It has facilities in the UK, UAE, Canada, Singapore and USA and the acquisition takes the total number of personnel up to 160 across its operations.
Ashtead Technology chief executive Allan Pirie said: “We are very pleased to welcome the Aqua-Tech Solutions team into the Ashtead Technology group and to expand our operations in Louisiana. This acquisition enables us to provide our full equipment and service capability right where our clients require it, at their project mobilisation locations at ports across the Gulf of Mexico coast.
“Aqua-Tech Solutions is a strong fit with our strategic goal to increase the group’s equipment and services to match customer demand. At the same time, it solidifies our established subsea solutions fleet in support of our clients’ long-term successes around the world.”
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Aqua-Tech Solutions president Jared Deculus said: “This is an exciting time for the business. The opportunities offered by becoming part of the Ashtead Technology group will enable us to deliver a broader range of equipment and project services to our clients.
"It also opens us up to wider international market prospects where clients are looking for the range of specialist cutting equipment and personnel we can provide.”
