Ashtead Technology, the Aberdeen-based subsea technology solutions provider, said on Wednesday it agreed to a cash takeover by Ember Infrastructure Management in a £6.15 per share deal that values Ashtead ​at about £505 million.

The agreed price represents a premium of 80.9% to the closing price per Ashtead Technology share of £3.40 on September 22, 2026, the last business day prior to the date on which the offer period commenced.

Ashtead Technology chairman Bill Shannon said: “Ashtead Technology is a market leader in the subsea technology sector, operating a high-performing business led by a proven and experienced management team with a strong track record of strategic execution.

“In recent years, the Ashtead Technology Group has demonstrated resilience despite a challenging market and geopolitical backdrop, continuing to deliver on its strategy, driven by rising global demand for its cutting-edge technical capabilities and through the breadth of its longstanding customer relationships.

“Throughout this process, the board’s priority has been to ensure that the high quality of the Ashtead Technology Group and its prospects are fairly recognised in the terms of Ember’s cash offer.

“The board believes that the Acquisition recognises the strength of the Ashtead Technology Group and provides shareholders with a compelling opportunity to realise significant value today when compared with the risk-adjusted return that would be expected to be delivered through the execution of Ashtead Technology’s standalone strategy. Accordingly, the Ashtead Technology Board intends to recommend that shareholders vote in favour of the Acquisition.”

Elena Savostianova, Founder and Managing Partner of Ember, said: “Ashtead Technology has established itself as a category leader in subsea technology solutions through the depth of its technical expertise, the scale and breadth of its fleet, the strength of its service culture, and its disciplined commitment to continuous improvement.

“Ember greatly admires the business that the world-class team at Ashtead Technology has built, and we are proud to be partnering with them on the Company’s next phase of growth.

“We will support the Company in pursuing its current strategy with greater ambition and with the support of additional long-term private capital. We look forward to continuing to invest in the fleet, technology, and people as Ashtead Technology extends its capabilities and international reach.”