Divestiture • Energy Services and Equipment

Phoenix Equity Partners Acquires Ashtead Technology

On June 23, 2008, private equity firm Phoenix Equity Partners acquired energy services and equipment company Ashtead Technology from Ashtead Group for 96M GBP

Acquisition Context
  • This is Phoenix Equity Partners’ 1st transaction in the Energy Services and Equipment sector.
  • This is Phoenix Equity Partners’ 5th largest (disclosed) transaction.
  • This is Phoenix Equity Partners’ 20th transaction in the United Kingdom.
Investment Fate
  • Ashtead Technology was sold to a consortium of buyers in 2016.
  • Ashtead Technology went public in 2021.

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M&A Deal Summary

Date June 23, 2008
Target Ashtead Technology
Sector Energy Services and Equipment
Buyer(s) Phoenix Equity Partners
Sellers(s) Ashtead Group
Deal Type Divestiture
Deal Value 96M GBP

Target Company

Ashtead Technology

Westhill, United Kingdom
Ashtead Technology is a provider of subsea equipment and services to the offshore oil and gas industry with a strong customer base built on trust and quality. With offices in the UK, Houston, and Singapore, Ashtead is focused on delivering cost savings and value-added services to its customers. Ashtead Technology was founded in 1985 and is based in Westhill, United Kingdom.
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Buyer Overview 1

Buyer

Phoenix Equity Partners

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 1.5B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

Phoenix Equity Partners is a mid-market private equity firm that funds management buyouts and buy-ins, and provides expansion capital for UK-based companies. Phoenix looks for opportunities valued up to £200 million. Target sectors include consumer, leisure, retail, financial services, healthcare, education, media, transportation/logistics, and business services. Phoenix Equity Partners was formed in 2001 and is based in London.


Deal Context for Buyer #
Overall 22 of 58
Sector: Energy Services and Equipment 1 of 1
Type: Divestiture 1 of 3
Country: United Kingdom 20 of 55
Year: 2008 1 of 4
Size (of disclosed) 5 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-10 Partnership Assurance

London, United Kingdom

Partnership Assurance Ltd. is a specialist provider of retirement solutions. The company provides insurance products to individuals who, because of an existing medical condition, have a reduced life expectancy and hence qualify for a higher or enhanced retirement annuity.

Sell €200M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-30 Busaba

London, United Kingdom

Busaba’s restaurants provides traditional Thai food served in stylish surroundings. Busaba was founded in 1999 and is based in London, United Kingdom.

Buy -

Seller Profile 1

SELLER

Ashtead Group

London, United Kingdom

Category Company
Founded 1947
Sector Retail
Employees25,041
Revenue 10.8B GBP (2025)
DESCRIPTION

Ashtead Group is an international equipment rental company with national networks in the US and the UK. The Company rents a full range of construction and industrial equipment across a wide variety of applications to a diverse customer base. Ashtead Group was incorporated in 1947 and is based in London, England.


Deal Context for Seller #
Overall 1 of 1
Sector: Energy Services and Equipment 1 of 1
Type: Divestiture 1 of 1
Country: United Kingdom 1 of 1
Year: 2008 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-07-19 NationsRent

Fort Lauderdale, Florida, United States

NationsRent, Inc. is one of the largest full service equipment companies in the United States, operating 268 locations (including 100 at Lowe's Home Improvement locations) in 26 states. NationsRent specializes in rentals and also sells new and used equipment with related merchandise, parts and supplies, and provides maintenance and repair services.

Buy $1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-13 eve trakway

Derbyshire, United Kingdom

Eve Trakway is a supplier of temporary vehicle and pedestrian access equipment used in major rail, communication and utilities infrastructure projects and high-profile outdoor events.

Buy £28M