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Ashtead Technology, a provider of subsea technology solutions to the offshore energy sector, has completed the acquisition of Seascan and its subsidiaries (known as Seatronics) and J2 Subsea in a deal worth £63m ($81.6m).
Seascan and its sister company J2 Subsea have been acquired from Acteon Group as part of a deal signed in October 2024.
The acquisition significantly bolsters Ashtead's subsea Survey and Robotics division, enlarging its rental fleet by approximately 30% and incorporating more than 100 specialist technical staff into its team.
The integration of Seatronics and J2 Subsea into Ashtead Technology is the company's ninth acquisition in seven years.
Ashtead Technology CEO Allan Pirie said: “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. Bringing Seatronics and J2 Subsea into the group will allow us to provide a broader range of technology solutions to our global client base.
“With a relentless focus on innovation, excellence and collaboration, we are proud to be building one of the world’s leading subsea technology businesses.”
Seatronics and J2 Subsea, with operational bases in the United Arab Emirates, Singapore, the UK and the US, are engaged in providing subsea electronics and tooling products and services.
Their expertise supports a range of offshore energy activities including the installation, inspection, maintenance, repair and decommissioning of subsea infrastructure in both the oil & gas and renewable energy sectors.
Acteon CEO Brice Bouffard earlier said: “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.”
"Ashtead acquires Seatronics and J2 Subsea for $81m" was originally created and published by Offshore Technology, a GlobalData owned brand.
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