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NVM makes 3.1x on Optilan exit to Blue Water Energy

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NVM Private Equity has made 3.1x on the sale of British oil and gas-focused telecommunications and security systems company Optilan to London-based GP Blue Water Energy in an SBO.

The deal sees Blue Water Energy draw equity from its $861m maiden vehicle to acquire Optilan from NVM, which has owned the company for nine years.

Blue Water Energy's investment size was not disclosed, but the GP said in a statement that the deal involved substantial growth equity funding. The private equity firm plans to grow Optilan organically and with strategic growth initiatives aimed at bringing the business into new regions and markets.

Previous funding
NVM supported the £18m MBO of Optilan in April 2008, with Optilan CEO Richard Buckland and directors Chris Yarwood and Bal Kler acquiring a joint majority stake in the business.

Company
Based in Coventry, Optilan provides telecommunications and security systems predominantly to the oil, gas and energy sectors.

Operating across Europe, the Middle East, Russia, Turkey and India, it employs a staff of 200 and was founded in 1990.

Advisers
Vendor – Simmons & Co, Nick Dalgarno, Fraser Dobbie, Aimee Colebrook (corporate finance); Eversheds Sutherland, Antony Walsh, Wyn Jones, Alex McCarney (legal); BDO, David Billington, Graham Elsworth (financial due diligence).

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