Subsea tech firm dives deeper into robotics
Ashtead Technology has made a ninth acquisition in seven years, this time to expand its survey and robotics rental services.
The subsea technology firm has signed an agreement to buy Seatronics – which comprises Seascan and its subsidiaries, including J2 Subsea Ltd – from the Acteon Group.
If the deal goes through, it means that Ashtead will have operations in Singapore, the UAE, UK and US, all in the offshore energy industry.
“Seatronics and J2 are businesses we have known for a long time,” said Allan Pirie, chief executive officer of Ashtead Technology. “With our most recent acquisitions focusing on expanding our mechanical services capability, this latest acquisition strengthens our international footprint and capability within our survey & robotics market.”
The £63 million (€75.6 million) purchase is subject to customary closing conditions including approval from the Competition and Markets Authority.
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