MEMBER NEWS: Ashtead Technology acquires ACE Winches

December 5, 2023
MEMBER NEWS: Ashtead Technology acquires ACE Winches

International subsea equipment rental and solutions specialist Ashtead Technology has further expanded its mechanical solutions service offering with the acquisition of ACE Winches.

Established in 1992, ACE Winches is a market-leader in the design, manufacture and hire of lifting, pulling and deployment solutions. The company’s core offering supports the installation, inspection, maintenance & repair and decommissioning of offshore energy infrastructure which is highly complementary to Ashtead Technology’s existing equipment and services portfolio.

ACE Winches is Ashtead Technology’s eighth acquisition in the last six years and follows the Group’s acquisitions of WeSubsea and Hiretech, in 2022. The latest deal further strengthens Ashtead Technology’s product and service offering across both oil & gas and offshore wind markets.

The acquisition sees Ashtead Technology’s headcount increase from 320 to over 520 employees.

Allan Pirie, Ashtead Technology’s CEO, said: “We are delighted to announce this strategic acquisition and welcome the ACE Winches team to Ashtead Technology.

“With a 31-year operating heritage, ACE Winches is a global market leader in its field with an unrivalled reputation. It has been a business we have admired and followed for a while as we share similar values, strengths and a relentless commitment to quality, service and operational excellence.

“The deal provides strong industrial logic adding complementary capabilities to bolster our mechanical solutions service line to deliver an enhanced and more integrated offering to a larger global customer base.”

Alfie Cheyne, Founder and Chairman of ACE Winches said: “Ashtead Technology is an outstanding business with a first class reputation and the clear synergies between both companies will give us the platform required to accelerate our growth. As well as creating a tremendous opportunity for our people, becoming part of Ashtead Technology will enable us to expand our existing capabilities and international footprint in key regions including the USA and the Middle East where Ashtead Technology has an established local presence.

“We are thrilled to become part of the Ashtead Technology team and see it as the perfect home for the next chapter in our growth story.”

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