NVM reaps 2x on Silverwing sale to Eddyfi

Under NVM's tenure, Silverwing invested in new product development and expansion into the US market. The company also created a new training division, made a number of recruitments in its research and development team and developed partnerships with universities.

The sale mark's NVM's third exit of 2016, having divested consumables wholesaler Kitwave Wholesale Group and Control Risks Group in March.

Private equity firms have struggled to divest european oil & gas services assets in recent years after the price of a barrel of Brent Crude oil dropped from $115 to less than $30 over the course of 18 months.

Previous funding
NVM invested £6m as part of a £7.5m MBO for Silverwing in September 2012.

Company
Founded in 1986 and headquartered in Swansea, Silverwing produces non-destructive testing equipment for the oil and gas sector. The company has additional offices in Dubai, Cape Town and Houston.

People
Silverwing - Wayne Woodhead (managing director).
NVM - James Arrowsmith (director).

Advisers
Equity - Wilkes, Rick Smyth (legal).

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