The management team of manufacturing business Silverwing Group has led a management buy-out backed by NVM Private Equity (NVM).

Swansea-headquartered Silverwing Group develops and manufactures non-destructive testing (NDT) products which inspect storage tanks, vessels and pipework for corrosion.

Its products are specifically tailored to the petrochemical industry and operates due to policies dictating that companies must demonstrate to regulatory bodies that facilities and systems operate effectively.

The buy-out, led by managing director Wayne Woodhead, is worth £7.5 million, £6 million of which is coming from NVM.

Silverwing’s deal follows a company restructuring in 2000. Further recent developments have included the establishment of Silverwing Middle East in 2006 and then Silverwing Africa in 2009. The new buy-out sees all three businesses brought under one umbrella company.

Woodhead says that NVM’s support will allow the firm to develop integrated products rather than individual ones.

He adds, ‘The growth in infrastructure across emerging markets in Asia, Africa and the Middle East is driving demand for these types of solutions, as well as increasing health, safety and environmental legislation in established markets.

NVM’s first buy-out of 2012 involved cash handling products business Volumatic, which was taken private by way of a £6 million deal.

James Arrowsmith, director of NVM and lead on the deal, comments, ‘Despite the global economic downturn, the NDT market continues to flourish.

‘Wayne has extensive expertise in this sector and successfully created value for Sonatest – a firm he previously managed.’