UK-based technology SME Viper Innovations has been acquired by its management team. This milestone marks a significant step in recognising Viper’s growth story and ensuring its continued stability and expansion into the future.
Viper Directors Edward Davies (Managing Director), Hugo Mansfield (Finance Director), James Carnegie (Sales and Delivery Director) and Rebekah Howard (Operations Director) have acquired a majority shareholding of the group of companies. Co-founders and Directors Neil Douglas and Max Nodder retain a minority stake, as does long-standing investor, partner and customer, Oceaneering International Services. Neil Douglas will continue as a non-executive director advising the board and acting in an ambassadorial capacity.
The technology SME has been dedicated to driving continued growth within its core sectors of subsea energy and rail through global expansion. The company is actively exploring how it’s existing technologies can be expanded into new markets and is committed to developing new disruptive innovations from its current portfolio. Looking ahead, the company plans to intensify its efforts on international growth in subsea markets and further diversification, ensuring a robust and agile business model.
Edward Davies, Managing Director celebrated the recent MBO announcement, stating:
“Viper’s success is a direct result of its incredibly talented team, whose bright minds, dedication, and drive for innovative technologies have propelled us forward. The strong foundations laid by and leadership of our co-founders Neil Douglas and Max Nodder over their 17 years of ownership, has been instrumental in achieving our current success. From a sustainably growing and profitable base in subsea energy and rail, our objective is to grow existing electrical monitoring and asset integrity solutions in our current sectors and extend them into new sectors and geographies. This includes always seeking to improve how we support our existing customers within our core markets. We will continue to offer disruptive products and services that streamline processes, systems and operations which will directly support further growth and diversification.”
Quote from Neil and Max:
“The business has brought valuable innovative solutions to critical industry challenges, providing great benefits to both the Subsea and Rail industries. This is just the next chapter in the legacy of Viper Innovations, and we have the utmost confidence in the Viper team and know it will continue to grow from strength to strength.”
Edward concludes:
“The Viper team has always driven and embraced positive change. We remain fully focused on serving our customers, partners and investors with the same dedication and excellence. Business continues as usual, and we look forward to building on our strong foundations together.”
Isca Ventures acted as the lead corporate finance advisers on the transaction, with legal advice to the purchaser/management team provide by Squire Patton Boggs (legal). The vendors’ lawyers were Osborne Clarke and Burness Paull. HSBC provided funding for the transaction and were advised by BDO (financial due diligence) and Burges Salmon (legal).
