Ashtead Technology completed the acquisition of Hiretech for £20m.

Ashtead Technology, the international subsea equipment rental and solutions specialist, completed the acquisition of Hiretech, a management owned, Aberdeenshire-based equipment rental, service and maintenance company serving the international offshore renewables, decommissioning, and conventional energy markets, for £20m. "We are delighted to announce the completion of this transaction and welcome new colleagues to the Ashtead Technology team. Hiretech has an excellent reputation and strong track record of delivering high-performance equipment and services to the offshore energy sector and has been a key supplier to Ashtead Technology in recent years. This acquisition provides strong synergies through vertical integration of the supply chain, and meaningfully expands our business by adding complementary capabilities to strengthen our mechanical solutions service line and deliver an enhanced offering to our customers," Allan Pirie, Ashtead Technology CEO.