Global law firm Ashurst Perkins Coie is advising Ashtead Technology Holdings plc on its £505 million recommended takeover by Pine Acquisition UK Bidco Limited, a company controlled by funds managed and advised by Ember Infrastructure Management, LP and its affiliates.
Pursuant to the terms of the offer, Ashtead Technology shareholders will be entitled to receive 615 pence per share. It is intended that the offer will be implemented by way of a scheme of arrangement, and the scheme is expected to become effective late in the fourth quarter of 2026 or early in the first quarter of 2027.
Ashtead Technology is a leading subsea technology solutions provider to the global offshore energy sector. The Ashtead Technology Group operates globally, servicing customers from its 13 facilities strategically located in key energy hubs supporting the installation, inspection, maintenance and repair and decommissioning of subsea infrastructure. Ashtead Technology’s shares are currently listed on the Equity Shares (Commercial Companies) category of the Official List and admitted to trading on the Main Market of the London Stock Exchange.
Ember is a New York-based private equity firm that has more than $2 billion of regulatory assets under management (as at 30 September 2026) . It was founded in 2018 by former members of the investment team of Global Infrastructure Partners. Ember invests in businesses servicing critical infrastructure end-markets. It has a particular focus on companies that support adaptation and resilience to climate effects, enhance resource efficiency and have meaningful growth levers tied to the energy transition.
The Ashurst Perkins Coie team is being led by partners Jonathan Parry and Tom Mercer, with support from senior associate Maria McAlister, associates Dominic Armstrong, Lucy Garrett, Saahil Gungapersad and Alice Beveridge and trainees Francis Louis and Rachel Lee. Partner Jeffrey Johnson is providing US Securities advice and counsel Euan Fergusson and associate Ismail Afzal are advising on incentives matters. Court scheme advice is being provided by partner Lynn Dunne, senior associate Paul Ryan-Brown and associate Zara Everitt, and tax advice is being provided by partner Tim Gummer, senior associate Shayaan Zaraq Bari and associate Natalie Gunner.
