Advanced engineering firm Viper Innovations is targeting new markets and further international growth after changing ownership through a management buyout.
The Portishead-headquartered firm, which was launched in 2007, has become a lead innovator in developing products that monitor, detect and locate cable insulation and conductor faults. 
Having initially worked in the subsea oil and gas industry, it has also more recently had success in the rail and industrial sectors.
Its products are used across the world including in Brazil, Kazakhstan, Azerbaijan, Vietnam, the US, Australia, Indonesia, Norway, Equatorial Guinea and the Ivory Coast.
Now under its new owners, it is actively exploring how it can expand its existing technologies into new markets while committing to develop new disruptive innovations from its current portfolio.
also plans to intensify its efforts on international growth in subsea markets along with further diversification, so ensuring what it called a robust and agile business model.
Viper’s new owners are managing director Edward Davies, finance director Hugo Mansfield, sales and delivery director James Carnegie and operations director Rebekah Howard, who now have a majority shareholding in the group of companies. 
Co-founders and directors Neil Douglas and Max Nodder retain a minority stake, as does long-standing investor, partner and customer US firm Oceaneering International Services.
Neil Douglas will continue as a non-executive director, advising the board and acting in an ambassadorial capacity.
Edward Davies, pictured, who joined the firm in 2020 having advised it in its early days, 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 Neil and Max 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.
“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 will continue to offer disruptive products and services that streamline processes, systems and operations which will directly support further growth and diversification.”
In a statement, Neil and Max added: “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.”
Viper, which also has a base in Aberdeen, was initially set up with just £45,000 of working capital.
