Bristol tech firm Viper Innovations completes MBO

Bristol’s Viper Innovations has undergone a management buyout, with top figures acquiring a majority shareholding in the group.

They are directors Edward Davies (managing director), Hugo Mansfield (finance director), James Carnegie (sales and delivery director) and Rebekah Howard (operations director).

Co-founders and directors Neil Douglas and Max Nodder retain a minority stake, as does long-standing investor, partner and customer Oceaneering International Services.

Neil will stay with the firm as a non-executive director, advising the board and acting in an ambassadorial capacity.

Viper Innovations’ core sectors are subsea energy and rail through global expansion.

The company is now actively exploring how its existing technologies can be expanded into new markets.

Looking ahead, it plans to intensify efforts on international growth in subsea markets and further diversify its portfolio.

Edward Davies, managing director, said “Viper’s success is a direct result of its incredibly talented team, whose bright minds, dedication, and drive for innovative technologies have propelled us forward.

“The strong foundations laid by and leadership of our co-founders over their 17 years of ownership have 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.

“From a sustainably growing and profitable base in subsea energy and rail, our objective is to grow existing electrical monitoring and asset integrity solutions in our current sectors and extend them into new sectors and geographies.

“This includes always seeking to improve how we support our existing customers within our core markets.

“We’ll continue to offer disruptive products and services that streamline processes, systems and operations which will directly support further growth and diversification.”