Ashtead Technology to acquire Seatronics and J2 from One Equity and Buckthorn-backed Acteon for £63m.

Ashtead Technology, a subsea equipment rental and solutions provider, agreed to acquire Seatronics, a global supplier of electronic subsea equipment to the hydrographic, environmental, geophysical, metocean, remotely operated vehicle and diving industries, and J2, an international subsea electronics and ROV tooling rental and services business, from One Equity and Buckthorn-backed Acteon, a company that provides project management and installation services for the operations of below the sea industries, for £63m ($82m). "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 the teams have consistently worked very closely together over that time. I'm very pleased to see both teams moving together to such a dynamic new home at Ashtead Technology," Brice Bouffard, Acteon Chief Executive Officer.