Graphite's ICR acquires MMC-backed Sky-Futures

The transaction comes five years after Graphite acquired ICR in a management buyout from Gresham Private Equity. It will expand the range of services offered by ICR, which currently has operations in the UK, Norway, Australia, the US and the UAE.

The transaction brings to an end a three-year tenure of Sky-Futures for MMC, during which time the business secured contracts and partnerships with NATS, Bureau Veritas, XD4Solutions, BW Offshore and Oil Spill Response.

Graphite is invested in ICR via its 2013-vintage vehicle Graphite Capital Partners VIII.

Previous funding
MMC first invested in Sky-Futures in 2015, when it provided the business with £2.5m in series-A funding. The VC injected a further $1.5m into the company as part of a $5.7m round led by corporate investor Bristow Group in 2016.

Company
Founded in 2009 and headquartered in Hayes, Middlesex, Sky-Futures is a provider of drone inspections and training for the energy, industrial and public sectors. The company has worked on projects in 28 countries and has a training facility in Moreton-in-Marsh, Gloucestershire, and a franchise in Malaysia.

People
ICR Integrity – Bill Bayliss (CEO).
Sky-Futures Partners – Chris Blackford (chief operations officer).

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