Silverwing Group.
Silverwing develops and manufactures a wide range of Non Destructive Testing (NDT) solutions which inspect storage tanks, vessels and pipework for corrosion and wall loss specifically for the petrochemical industry. NDT inspections are designed to prevent accidents, reduce costs, improve product reliability and limit environmental impact.
Silverwing was founded in 1983 as a service inspection company. By 1992 the company had manufactured its own Magnetic Flux Leakage (MFL) floor scanner used to detect under floor corrosion in large petrochemical storage tanks. The global demand for the product encouraged Silverwing to develop its design further to produce what is now the world’s leading MFL mapping floor scanner. The growth in infrastructure across emerging markets in Asia, Africa and the Middle East is driving demand for these types of solutions, as well as increasing health, safety and environmental legislation in established markets.
In 2000, the company restructured under the name Silverwing (UK) and established Silverwing Middle East LLC in 2006 followed by Silverwing Africa PTY in 2009. As part of the management buy-out the three businesses were brought under one umbrella company. Silverwing is now a recognised brand within the international tank storage market, and remains ideally placed to launch further products across different industries. Since 2006 it has successfully increased its revenue by 244%.
Wayne Woodhead, Managing Director of Silverwing, has over 23 years’ experience in the NDT sector. He is supported by a highly experienced and passionate management team and with the support of NVM and they have continued to develop their integrated NDT solutions for customers in the petrochemical sector.
Since our initial investment back in 2012 Silverwing has experienced significant change under Wayne’s leadership – expanding to the US, relocating to new modern premises and developing a specialist training arm. We have thoroughly enjoyed participating in the growth of the business into an industry leading company and look forward to watching its continued progress as part of Eddyfi. The combined group will be a significant player within the advanced NDT market and we wish Wayne and his new colleagues well
We are very grateful to James and the NVM team for the support they have provided since their investment in 2012. It has enabled us to build a dynamic, innovative, and growing business. Their market vision and ambition has been a real catalyst to help build Silverwing and has put us in a great position to develop further.
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Nature of business
Develops and manufactures a wide range of Non Destructive Testing (NDT) solutions for the petrochemical industry.
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Description of deal
NVM invested in an MBO in 2012 followed by an exit in May 2016.
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Growth strategy
Continued development of their range of NDT testing equipment/ analytical software and expansion into new geographies.
Contact James Arrowsmith
International Impact Management Team of the Year