The completion of Ashtead Technology’s £63 million acquisition of Seatronics and J2 Subsea signals the firm’s “relentless focus on innovation,” chief executive Allan Pirie said.

By taking over the two Acteon-operated remotely operated vehicle (ROV) businesses, Ashtead has expanded its headcount by 100.

Ashtead Technology has tripled its workforce over the past year through acquisitions and business growth.

The firm is set to open an additional 36,000ft2 hub in Kintore, Aberdeenshire as it expands. This will support its existing facilities Westhill, Thainstone, Fintray and Turriff.

The Westhill business has also expanded its rental fleet by 30% as a result of the deal.

The north-east business’ M&A activity helped it see a surge in revenue in its 2023 full year results, growing 51% to £110.5m compared to £73.1m in 2022.

Allan Pirie said: “This transaction, the ninth we have completed in the last seven years, continues a remarkable journey of growth for the business. Bringing Seatronics and J2 Subsea into the group will allow us to provide a broader range of technology solutions to our global client base.

“With a relentless focus on innovation, excellence and collaboration, we are proud to be building one of the world’s leading subsea technology businesses.”