South West tech firm completes management buy-out

A technology firm based in Portishead has undergone a management buy-out.

Viper Innovations changed ownership earlier this month.

Directors Edward Davies (managing director), Hugo Mansfield (finance director), James Carnegie (sales and delivery director) and Rebekah Howard (operations director) have acquired a majority shareholding of the group of companies.

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

Neil Douglas will continue as a non-executive director advising the board and acting in an ambassadorial capacity.

The technology SME has been dedicated to driving continued growth within its core sectors of subsea energy and rail through global expansion.

The company is currently exploring how it’s existing technologies can be expanded into new markets and is committed to developing new disruptive innovations from its current portfolio.

The company plans to intensify its efforts on international growth in subsea markets and further diversification, ensuring a robust and agile business model.

Edward Davies 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 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.”

Neil Douglas and Max Nodder, co-founders and directors of Viper Innovations, said: “We have thoroughly enjoyed building the business that is Viper Innovations.

“It has been both an honour and a privilege to work with our customers, suppliers and most of all our Viper team. The business has brought valuable innovative solutions to critical industry challenges, providing great benefits to both the Subsea and Rail industries.

“This is just the next chapter in the legacy of Viper Innovations, and we have the utmost confidence in the Viper team and know it will continue to grow from strength to strength.”

Co-founder Neil Douglas will provide support through a non-executive role to strengthen governance.

He said: “My role will be that of a critical friend, to mentor, support and, when required, challenge the board.”

Neil will also support the board with his significant industry experience and contacts with subsea and renewables stakeholders.

Edward Davies said: “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.”