As part of the transaction, Forum Energy Technologies contributed its subsea rentals business, which traded as Forum Subsea Rentals, creating a leading, independent provider of subsea survey and remotely operated underwater vehicle (ROV) equipment rental services.
Allan Pirie, CEO of the combined business, trading as Ashtead Technology, commented: “With a fleet of 19 000 assets valued in excess of US$139 million, and the ability to service all major subsea hubs, we become a business of significant scale and enhanced capability that is well placed to support our customers’ project requirements.
“We are ready and looking forward to helping address our customers’ challenges head-on.”