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NVM invests in Silverwing Group

NVM invests in Silverwing Group.

“NVM were our chosen partner as their team understands the needs and potential of technology-led manufacturing businesses and supporting management through a buy-out process.”

Wayne Woodhead,
Managing Director of Silverwing

NVM has invested £6m in the £7.5m management buy-out of Silverwing Group. The company 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. International demand for Silverwing’s products grew, so 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 will be brought under one umbrella company.

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. Silverwing is now a recognised brand within the international tank storage market, so is ideally placed to launch further products across different industries. Since 2006 it has successfully increased its revenue by 244%. Silverwing is headquartered in Swansea, Wales and currently employs 35 people in the UK and 27 in Dubai and South Africa.

Wayne Woodhead, Managing Director of Silverwing, has 23 years’ experience in the NDT sector and successfully created value for Sonatest – a firm he previously managed. He has recognised a demand for a wider range of products to reach out to a diverse customer base. It’s an exciting time for Silverwing and we look forward to supporting Wayne and his team through their next stage of development.

James Arrowsmith
T 0845 272 7015
E james.arrowsmith@nvm.co.uk

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We seek investment opportunities in UK businesses that have the right mix of flair, growth potential and market vision. They may be looking to grow organically, acquire another business or secure a management buy-out. Typically, we look to invest between £2m and £10m.

NVM Private Equity Limited (‘NVM’) is authorised and regulated by the Financial Services Authority.

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