Mon, 29 Jul 2024 | MBO/MBI
Viper Innovations, a Portishead-based technology firm, has undergone a management buyout (MBO). Managing Director Edward Davies, Finance Director Hugo Mansfield, Sales and Delivery Director James Carnegie and Operations Director Rebekah Howard have acquired a majority shareholding in the group.
A minority stake has been retained by co-founders and directors Neil Douglas and Max Nodder, as well as investor, partner and customer Oceaneering International Services. Douglas will remain as a non-executive director, as well as serving in an ambassadorial capacity.
Douglas said that his role “will be that of a critical friend, to mentor, support and, when required, challenge the board.”
Viper Innovations has been dedicated to driving growth through global expansion in its core subsea energy and rail sectors. The firm is exploring how existing technologies can be expanded into new markets, with a commitment to developing disruptive new innovations from its current portfolio.
It now plans to intensify its international growth efforts in subsea markets and target further diversification in order to ensure a robust, agile business model.
MD Edward Davies said that the firm’s success “is a direct result of its incredibly talented team.” He continued: “The strong foundations laid by and leadership of our co-founders Neil Douglas and Max Nodder over their 17 years of ownership, has been instrumental in achieving our current success.
“Neil and Max have now entrusted the new majority shareholders to carry forward this legacy, ensuring that our trajectory of growth and innovation continues. Their and Oceaneering’s continued investment in the business in terms of time and their shareholdings are a testament of their faith and trust in Viper and all its people.”
Co-founder and directors Neil Douglas and Max Nodder said: “We have thoroughly enjoyed building the business that is Viper Innovations.”
“The business has brought valuable innovative solutions to critical industry challenges, providing great benefits to both the Subsea and Rail industries.”
Edward Davies added: “The Viper team has always driven and embraced positive change. We remain fully focused on serving our customers, partners and investors with the same dedication and excellence. Business continues as usual, and we look forward to building on our strong foundations together.”
Discover what's driving the growing popularity of MBOs
This company has developed an innovative and highly customisable HRIS solution, featuring automated checks such as KYE, DBS, MOT, and driving licence verifications. With a strong reputation and stable revenue from rolling contracts, it presents signi...
This is an exclusive opportunity to acquire a profitable and established software quality assurance company based in Romania, serving over 40 active clients in more than 15 countries.
This tech-driven HR solutions company offers a unique blend of proprietary compliance technology and expert consultancy, enabling custom-tailored services across 27 EU countries.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.