finance

Ashtead Technology appoints CFO and expands management team



Ashtead Technology has appointed a chief financial officer (CFO) and five managers for newly created roles across its international team.

The appointments are part of the integrated subsea technology and services company’s strategic growth plans to gain market share in global offshore energy and build on recent success in new and emerging markets, including in offshore wind and decommissioning.

Ingrid Stewart assumed the new CFO position this week, bringing 23 years of corporate finance experience to the Aberdeenshire-headquartered business, which employs 170 people around the world.

She spent eight years with EnerMech Group as corporate development director, managing the completion and integration of multiple acquisitions for the firm, as well as developing and executing long-term strategies.

Prior to this, Stewart was a member of the senior UK management team at Simmons & Company International, becoming the investment bank’s first ever female corporate finance director in 2009.

In her new role, Stewart will work with the senior team to position the company for further growth and further leverage existing capability.

“After watching the business successfully grow through acquisition over the past few years and increase its foothold in the offshore renewables and decommissioning sectors, I am thrilled to be joining the talented team at Ashtead Technology,” she commented.

The new Aberdeenshire-based managerial hires across Ashtead Technology include Lili Hughes, as group quality health, safety and environment manager, Stephen Booth as decommissioning manager, and Michael Gibson as asset integrity project manager.

In addition, Mark Vela has joined as US operations manager in Houston, and Dan Davies has taken up his new role as non-destructive testing market manager within the company’s inspection solutions team in Bedfordshire.

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Ashtead Technology chief executive Allan Pirie said: “Ingrid’s substantial corporate finance and energy industry experience will make a significant contribution to our growth ambition as we further integrate and invest in our global operations to support the increase in business in offshore wind, decommissioning, and oil and gas.

“Bolstering our management team in the UK and the US will ensure we are well equipped to support our clients as we navigate the current challenges and capitalise on the opportunities presented by the energy transition and the blue economy.”

Ashtead Technology has acquired five businesses since 2017 – TES Survey Equipment Services, Forum Subsea Rentals, Welaptega, Aqua-Tech Solutions and Underwater Cutting Solutions – and, as a result, now has one of the largest equipment fleets in the industry.

The company has nine facilities located in offshore energy hubs, including Aberdeen, Abu Dhabi, Broussard, Halifax, Houma, Houston, Inverurie, London and Singapore.



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