Subsea equipment solutions specialist Ashtead Technology said it has bolstered its inspection, maintenance and repair (IMR) services and capabilities with the acquisition of Canadian-based underwater inspection company Welaptega.
The transaction comes 10 months after the company completed a joint venture with Forum Energy Technologies, creating an independent provider of subsea survey and ROV equipment services with a fleet of 19,000 assets worth in excess of £100 million.
Today’s announcement marks Ashtead’s third deal since it was acquired by Buckthorn Partners and APICORP in 2016.
Allan Pirie, CEO of Ashtead Technology, said, “This is a significant step in the development of our IMR strategy, increasing our asset integrity service offering by adding innovative products, technology and capabilities which are aligned with our current business.
“Our customers now have access to a leading innovator in offshore asset inspection, engineering and integrity solutions. Our combined technical capabilities and advanced inspection technologies means we can offer a comprehensive integrity management service to support the performance and life extension of critical infrastructure.”
Welaptega's CEO, Tony Hall, will continue to lead the business based in Halifax, Nova Scotia.
Hall commented, “Being part of the Ashtead Technology group will allow us to expand our existing capabilities and international footprint, giving us greater ability to address our customers’ growing asset integrity requirements. It also enables us to continue our successful history of R&D and invest in adjacent underwater inspection (UWI) applications. Our customers will now have access to a wider portfolio of products and services, resulting in a far more comprehensive solutions capability.”