ASCO boasts a significant workforce, with over 1,000 employees in the UK and another 500 in its international wings. Operating from 60 locations in nine countries across six continents, ASCO’s reach is genuinely global. With this acquisition, Endless LLP aims to bolster ASCO’s stature in the rapidly expanding renewables and new energy markets, fully exploiting the increasing prospects offered by the ongoing energy transition.

As previously announced, Mike Pettigrew will assume the role of CEO on 2 October from Peter France, following a planned transition.

Mr Pettigrew said: “Over the last few years, ASCO has succeeded in supporting its longstanding existing customer base whilst also expanding into the renewables market, actively contributing to numerous wind projects in the North Sea.

“Our commitment to supporting all new energy development has led us to build strategic alliances in cutting-edge energy ventures such as carbon capture utilisation and storage and hydrogen.

“Leveraging over 50 years of extensive offshore logistics experience, we look forward to working closely with Andy and the team at Endless to further build on our growth during this exciting period for the energy industry.”

“We have a great team, and I am looking forward to leading ASCO on the next chapter.”

Andy Ross, partner at Endless LLP said: “We are delighted to support Mike and the entire ASCO team on the next stage of their journey. ASCO is a fantastic business with great potential for further growth.

“It is an exciting time in the energy sector both in the UK and internationally. ASCO is well placed to support its customers to accelerate the energy transition.”

Advisors for the vendors were Piper Sandler (corporate finance), Ashurst (legal), and Deloitte (financial and tax due diligence). Management was advised by Burness Paull

(legal).

Endless were advised by Walker Morris (legal); KPMG (tax); Lodestone (political); Jacksonbreen (IT); and PwC (debt).