Buckthorn and the Arab Petroleum Investments Corporation (APICORP) acquired Ashtead Technology Limited (Ashtead) in April 2016. Since its launch in 1985, Ashtead has grown to become a leading independent provider of subsea technology and services to the energy industry with a strong customer base built on trust and quality. With offices in the UK, US, Middle East and Singapore, Ashtead is focused on delivering cost savings and value-added services to its customers across both the oil and gas industry and the offshore wind sector, where it provides power development and maintenance services. A growing part of Ashtead’s business is focussed on the effective decommissioning of end-of-life oil and gas fields.

Since Buckthorn acquired Ashtead, the following acquisitions have been completed:



September 2019: Ashtead Technology further expanded its decommissioning and production-integrity capabilities with the acquisition of Underwater Cutting Solutions (UCS) which significantly broadens Ashtead Technology’s IMR and decommissioning service.


August 2019: Forum Energy Technologies (FET) agreed to sell its interest in Ashtead Technology, which it acquired in January 2018 as part of the transaction which resulted in a merger between FET’s subsea rentals business and Ashtead.


April 2019: Ashtead Technology acquired Louisiana-based subsea equipment-rental and cutting services specialist, Aqua-Tech Solutions, as part of the company’s international growth plans and provides further exposure to the decommissioning market through its specialist cutting services.


November 2018: Ashtead Technology further bolstered its inspection, maintenance and repair services capability with the acquisition of Canadian-based underwater inspection company, Welaptega. Founded in 1990, Welaptega is a market-leader in mooring system inspection and integrity engineering. Over the past 28 years it has developed a suite of pioneering technologies and services to mitigate failure, prevent damage and environmental hazards, and manage the ongoing integrity of offshore operations through a risk-based approach to asset integrity.


December 2017: Ashtead Technology and Forum Energy Technologies, Inc. agreed to form a joint venture, creating the industry’s leading provider of subsea survey and ROV equipment rental and associated services, with Forum contributing its subsea rentals business.



December 2016: Ashtead Technology announced the acquisition of Abu Dhabi based TES Survey Equipment Services LLC. Established in 2007, TES Survey Equipment Services sells and rents a range of environmental, geophysical, survey and ROV equipment.