Management Buyout of Ashtead Technology Rentals

Houston, Texas - Ashtead Technology Rentals Ltd, a leading high-technology rental equipment supplier, is delighted to announce that its management team, with backing from Phoenix Equity Partners, have successfully acquired the business in a $183.7 million management buyout from Ashtead Group plc. The buyout was led by Andy Holroyd, President of North American Operations and Andy Doggett, Managing Director. As an independent business, and with additional financial backing, Ashtead is focused on growing the services offered to the inspection and environmental monitoring sectors, as well as the offshore oil and gas industry. Ashtead Technology’s highly experienced and motivated workforce looks forward to continuing to meet its customers’ needs and to providing high-technology rental equipment that can be relied upon to operate... [read full story]