NVM backs MBO of Silverwing Group

The GP invested a total of £6m in the deal, which brought Silverwing's three businesses in the UK, Middle East and Africa under one umbrella company led by managing director Wayne Woodhead.

The company plans to develop integrated solutions for corrosion mapping applications. It seeks to capitalise on growing demand in emerging markets coupled with increasing regulatory demand both at home and abroad.

Debt
Bank debt was provided by RBS.

Company
Silverwing Group consists of Silverwing UK, based in Swansea, 2006-established Silverwing Middle East, based in Dubai, and an African division founded in 2009 and based in South Africa. It offers non-destructive testing solutions targeting the petrochemical industry.

The business was founded as a service inspection company by Simon Packer in 1983. It restructured under its current name in 2000. Silverwing employs 62 people overall and has seen its revenue increase by 244% since 2006.

People
NVM director James Arrowsmith worked on the deal alongside investment partner David Rolfe. Jonathan Roberts acted as relationship manager for RBS.

Advisers
Equity – Transcend Corporate Finance, Ian Curtis (Corporate finance); Eversheds, Jon Gill, James Trevis (Legal); BDO, Graham Elsworth, David Billington (Financial due diligence); Calash, Iain Gallow (Commercial due diligence); Mercuri Urval, Richard Edmondson (Management due diligence).
Vendor – Parry & Co, Bill Parry (Legal).
Debt – Hugh James, Dominic Marshall (Legal).
Management – The Wilkes Partnership, Rick Smyth (Legal).

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• Topics
• Buyouts
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• UK / Ireland
• NVM Private Equity
• United Kingdom
• Eversheds