Weil and Ashurst Perkins Coie advised on £505 million takeover of Ashtead Technology by Ember Infrastructure Management.
Ashtead Technology Holdings plc has agreed to a £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.
Under the terms of the offer, Ashtead Technology shareholders will be entitled to receive 615 pence per share. The offer is intended to be implemented by way of a scheme of arrangement, which is expected to become effective in late Q4 2026 or early Q1 2027.
Ashtead Technology is a leading subsea technology solutions provider to the global offshore energy sector. The group operates globally, servicing customers from 13 facilities strategically located in key energy hubs supporting the installation, inspection, maintenance and repair, and decommissioning of subsea infrastructure.
Ember is a New York-based private equity firm with more than USD 2 billion of regulatory assets under management as at September 30, 2026. Founded in 2018 by former members of the investment team of Global Infrastructure Partners, Ember invests in businesses servicing critical infrastructure end-markets, with a particular focus on companies supporting adaptation and resilience to climate effects, enhancing resource efficiency and benefiting from growth opportunities tied to the energy transition.
Weil, Gotshal & Manges is acting as legal adviser to Ember and Bidco.
Ashurst Perkins Coie advised Ashtead Technology Holdings plc in connection with the recommended takeover.
The 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. Tax advice is being provided by Partner Tim Gummer, Senior Associate Shayaan Zaraq Bari and Associate Natalie Gunner.
