SEP backed Cyberhawk acquired by Magnesium
Cyberhawk Innovations Limited (Cyberhawk), the world leader in delivering drone inspections and asset visualisation software for energy infrastructure, backed by Scottish Equity Partners (SEP), has been acquired by funds advised by Magnesium Capital LLP.
Headquartered near Edinburgh, Cyberhawk currently employs 60 people, and is recognised internationally as a pioneer in the high-growth unmanned aerial vehicle (UAV) inspection market. The company has flown more than 30,000 commercial missions in more than 30 countries around the world and has recently developed cloud-based, AI-enabled visual asset management software known as iHawk, which uses high resolution imagery to digitise industrial infrastructure assets.
Cyberhawk CEO Chris Fleming said: “Over the last ten years, with the support of Scottish Equity Partners and Scottish Investment Bank, our team has not only built a thriving, profitable business, but has played a critical role in the creation and digitisation of the entire UAV inspection industry. We are extremely proud to have established a globally renowned reputation and to be relied upon by many of the world’s largest energy companies.”
David Sneddon, Partner at SEP added: “Since our first investment in Cyberhawk in 2011, the company has grown revenue at over 30% CAGR and developed its software and operational capabilities across the Middle East, Far East and USA. We are delighted to have played our part in Cyberhawk’s success to date and look forward to charting the company’s future growth under its new ownership.”