Acuity advises Cyberhawk on a buyout backed by Magnesium Capital

has been acquired by Type: Divestiture

March 2019

Cyberhawk Innovations Limited (“Cyberhawk”), a leading provider of UAV inspection services and asset visualisation software, has been acquired by funds advised by Magnesium Capital LLP (“Magnesium”), a London-based private equity firm. Acuity’s Andy Lister advised Cyberhawk on the transaction.

Cyberhawk combines highly experienced UAV pilots and inspection engineers with its cloud-based, AI-enabled visual asset management software platform – iHawk – which customers use to drive maintenance decisions and manage complex projects. Cyberhawk has an unrivalled industry reputation with projects completed with high profile customers in over 30 countries, a rapidly growing US presence and strong partnerships with the major UAV OEMs.

Founded in 2008 and headquartered near Edinburgh, UK, Cyberhawk has bases around the world including the US, UAE and Malaysia and currently employs 60 people.

The transaction facilitates a full exit for the existing institutional investors, Scottish Equity Partners and Scottish Investment Bank as well as providing additional growth capital to fund further stages of software development and US expansion. The terms of the transaction were not disclosed.

Magnesium focuses on mid-market buy-outs and growth equity investments in technology and tech-enabled services for the energy sector.

Chris Fleming, CEO of Cyberhawk said:

“Cyberhawk is at a pivotal stage of growth in a very exciting industry. We looked to find an investment partner that provides both financial strength and that believes in the future of what we do and how we do it. Andy and the team guided us through this process, helping us to find the right partner amidst strong interest from both private equity and strategic buyers. Like all strong relationships, it comes down to trust, a willingness to be open and very good communication. We found this with Acuity.”

Andy Lister, Partner at Acuity Advisors, said:

“The inspection industry is experiencing huge change as UAVs are mobilised to capture high quality data at lower cost than traditional inspection techniques and companies embrace the digitisation of assets. With Magnesium’s support, Cyberhawk is ideally positioned to harness these opportunities and continue its rapid growth. It has been a pleasure to work with Chris Fleming and the rest of the Cyberhawk team and I wish them every success for the future.”

Matthew Byatt, Managing Partner at Acuity Advisors said:

“As an investor in fast-growing technology and tech-led businesses in the energy space, Magnesium Capital are the ideal partner for Cyberhawk and I am delighted that Andy and his team have been able to achieve this result. This is further endorsement of Acuity’s credentials in the Industrial Technology sector.”

Andy Lister, Partner

About Acuity Advisors LLP

We know technology – that’s why we’re the industry’s trusted M&A advisor. Our partners are senior players in tech and M&A: skilled at getting to the heart of a technology business, understanding what will attract buyers, and building long-lasting relationships. We have an unrivalled understanding of the industry’s complexities and personalities – our track record and client feedback are compelling evidence of that. We’re an international firm – most of our deals are cross-border, from offices in London, Munich, Shanghai and Silicon Valley – but we’re grounded in our approach. We move quickly when it’s needed, and we’re around for the long haul when patience is a virtue. We’ve maintained a very high success rate across hundreds of deals while keeping our focus on doing what’s right for our clients. From first meeting to successful exit, we earn the trust that clients and investors put in us. Read more…

© 2019 Acuity Advisors LLP

quote Cyberhawk is at a pivotal stage of growth in a very exciting industry. We looked to find an investment partner that provides both financial strength and that believes in the future of what we do and how we do it. Andy and the team guided us through this process, helping us to find the right partner amidst strong interest from both private equity and strategic buyers. Like all strong relationships, it comes down to trust, a willingness to be open and very good communication. We found this with Acuity. quote
Chris Fleming, CEO Cyberhawk

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