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Ashurst Perkins Coie said in an announcement on its website on 21 October 2026 that it is acting for Ashtead Technology Holdings plc in connection with a recommended takeover offer worth £505 million from Pine Acquisition UK Bidco Limited, a vehicle backed by funds that Ember Infrastructure Management, LP and its affiliates manage and advise.
Key points
- Ashtead Technology shareholders will receive 615 pence for each share they hold under the terms of the offer, the firm said.
- The deal is intended to proceed by way of a scheme of arrangement, expected to take effect toward the end of 2026 or in the early part of 2027, according to the announcement.
- Ashtead Technology operates 13 facilities across key energy hubs worldwide, supporting work such as installation, inspection, maintenance, repair and decommissioning of subsea infrastructure for offshore energy customers.
- Ashtead Technology’s shares sit in the Equity Shares (Commercial Companies) category of the Official List and trade on the London Stock Exchange’s Main Market, the announcement said.
- Ember, a New York-based private equity firm, held more than $2 billion in regulatory assets under management as at 30 September 2026, according to the announcement, and was founded in 2018 by individuals who previously worked on the investment team at Global Infrastructure Partners.
The parties
The announcement described Ember as investing in businesses that serve critical infrastructure end-markets, focusing particularly on companies supporting climate adaptation and resilience, improving resource efficiency, or offering growth potential linked to the energy transition.
Advisory team
Ashurst Perkins Coie said its team is led by partners Jonathan Parry and Tom Mercer. Senior associate Maria McAlister is supporting the matter. Associates on the deal include Dominic Armstrong, Lucy Garrett, Saahil Gungapersad and Alice Beveridge, while trainees Francis Louis and Rachel Lee are also involved.
Partner Jeffrey Johnson is handling US securities matters. Incentives advice is being given by counsel Euan Fergusson and associate Ismail Afzal.
Court scheme matters are being handled by partner Lynn Dunne, with senior associate Paul Ryan-Brown and associate Zara Everitt providing support. Tax advice comes from partner Tim Gummer, alongside senior associate Shayaan Zaraq Bari and associate Natalie Gunner.