Nature of business

Develops and manufactures a wide range of Non Destructive Testing (NDT) solutions for the petrochemical industry.

Description of deal

NVM invested in an MBO in 2012 followed by an exit in May 2016.

Growth strategy

Continued development of their range of NDT testing equipment/ analytical software and expansion into new geographies.

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. The global demand for the product encouraged Silverwing to develop its design further to produce what is now the world’s leading MFL mapping floor scanner. 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.

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 were brought under one umbrella company. Silverwing is now a recognised brand within the international tank storage market, and remains ideally placed to launch further products across different industries. Since 2006 it has successfully increased its revenue by 244%.

Wayne Woodhead, Managing Director of Silverwing, has over 23 years’ experience in the NDT sector. He is supported by a highly experienced and passionate management team and with the support of NVM and they have continued to develop their integrated NDT solutions for customers in the petrochemical sector.

We are very grateful to James and the NVM team for the support they have provided since their investment in 2012.  It has enabled us to build a dynamic, innovative, and growing business. Their market vision and ambition has been a real catalyst to help build Silverwing and has put us in a great position to develop further.

Wayne Woodhead, Managing Director of Silverwing Group