Ashtead Technology to acquire Seatronics and J2 Subsea
29/01/2025
Ashtead Technology, a leading provider of subsea technology and services, has announced that it has signed an agreement to acquire Seascan Limited and its subsidiaries (known as Seatronics) and its sister company, J2 Subsea Limited, international subsea electronics and remotely operated vehicle (ROV) tooling rental and services businesses, for £63 million from Acteon Group. The transaction remains subject to customary closing conditions, including approval of the Competition and Markets Authority.
This latest acquisition, the ninth in seven years, will further expand Ashtead Technology’s capabilities in the global survey and robotics rental market. Seatronics and J2 have operations in Singapore, United Arab Emirates (UAE), the UK and the USA, providing subsea electronics and tooling products and services to the global offshore energy market. Together they support the installation, inspection, maintenance and repair and decommissioning of subsea oil & gas and renewable energy infrastructure.
The highly complementary acquisition will increase the breadth and depth of Ashtead Technology’s survey and robotics rental fleet and services, bringing a highly skilled employee base of 110 people with significant domain knowledge and technical expertise, adding more than 7000 proprietary assets to increase Ashtead Technology’s rental portfolio by 30%.
Allan Pirie, Chief Executive Officer of Ashtead Technology, said: “Seatronics and J2 are businesses we have known for a long time. With our most recent acquisitions focusing on expanding our mechanical services capability, this latest acquisition strengthens our international footprint and capability within our survey and robotics market. We look forward to welcoming new colleagues to Ashtead Technology and increasing the wealth of in-house expertise as a larger group, creating a world-leading subsea survey and robotics
team.”
Brice Bouffard, Chief Executive Officer of Acteon, added: “Upon closing, this transaction will be the next important step in focusing our service portfolio to achieve Acteon’s long-term strategic goals. Seatronics and J2 have been an integral part of our business for many years and I am very pleased to see both teams moving together to such a dynamic new home at Ashtead Technology. Acteon is committed to optimising our portfolio to better serve our customers and stakeholders as we support the evolving offshore energy market.”
This significant investment is part of Ashtead Technology’s commitment to delivering high-quality subsea technology and services, supporting customers across the offshore energy sector.
Founded in 1985, Ashtead Technology was established to provide customers in the North Sea and beyond with high-specification survey and ROV equipment on a rental or sale basis.
Through organic growth and strategic acquisition, Ashtead Technology has fast evolved into a leading subsea equipment rental and solutions business serving the global offshore energy sector.
