# Ashtead Technology acquires Alfred Cheyne Engineering for £53.5 million

Ashtead Technology Holdings Plc acquired Alfred Cheyne Engineering Limited (trading as ACE Winches) from founders Alfie and Valerie Cheyne for £53.5 million on November 30, 2023. ACE Winches will form part of the Group's Mechanical Solutions offering.

- Type: Acquisition
- Announced: 2023-11-30
- Where: Turriff, Aberdeenshire, United Kingdom
- Value: $68.0M (53.5M GBP)
- Status: completed
- Products: winches, mechanical solutions
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Ashtead Technology](https://endata.com/companies/35636.md) (acquirer)
- [Alfred Cheyne Engineering](https://endata.com/companies/74076.md) (target)
- [ACE Winches](https://endata.com/companies/74105.md) (target)
- [Rathmay Limited](https://endata.com/companies/74119.md) (target)

## Sources

- [marketscreener.com](https://www.marketscreener.com/quote/stock/ASHTEAD-TECHNOLOGY-HOLDIN-129712733/news/Ashtead-Technology-Holdings-Plc-AIM-AT-acquired-founders-Alfred-Cheyne-Engineering-Limited-from-A-45475293/), 2023-11-29: "ACE Winches will form part of the Group's enlarged Mechanical Solutions offering, a core area of focus for inorganic expansion."
- [grampianonline.co.uk](https://www.grampianonline.co.uk/news/ace-winches-acquired-by-ashtead-technology-in-multi-million-334472/), 2023-11-30: "The deal provides strong industrial logic adding complementary capabilities to bolster our mechanical solutions service line to deliver an enhanced and more integrated offering to our customers."
- [business-news-today.com](https://business-news-today.com/ashtead-technology-acquires-ace-winches-for-53-5m/), 2023-12-01: "Ashtead Technology Holdings plc, a leader in subsea equipment rental and solutions for the offshore energy sector, has announced a significant acquisition, purchasing the entire share capital of Rathmay Limited, parent company of ACE Winches."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.