The transaction facilitates the next phase of ICR’s inspection service offering, augmenting its existing leading global provision of integrated maintenance and integrity solutions to the oil and gas, power, chemical and nuclear industries
ICR Integrity (ICR), has acquired Sky-Futures Partners Limited (Sky-Futures), a leading provider in delivering drone-based inspections and drone pilot training for the energy, industrial and government sectors.
The transaction facilitates the next phase of ICR’s inspection service offering, augmenting its existing leading global provision of integrated maintenance and integrity solutions to the oil and gas, power, chemical and nuclear industries. The acquisition also strengthens ICR’s infrastructure to support additional growth and expansion through the company’s existing established networks.
With over eight years of experience in 28 countries, Sky-Futures is leading the development of commercial Beyond Visual Line of Sight (BVLOS) drone operations; the next evolution in remote inspection through the application of long endurance, BVLOS drone technology.
Commenting on the acquisition, ICR’s CEO, Bill Bayliss, said: "This is a very exciting time for the ICR business and its continued growth in the inspection space. We see a huge opportunity with Sky-Futures becoming part of the ICR Group as they are a world leader in the use of drones for data capture and its subsequent management. This acquisition, combined with a number of existing product lines within the ICR service portfolio, will provide our global client base with industry leading technologies to both extend the life cycle and improve the integrity of an asset."
Sky-Futures Co-Founder and COO Chris Blackford said: "The acquisition of Sky-Futures by ICR is an exciting next step in our journey. The combination of ICR’s technical services with drone-based inspection operations provide a highly differentiated offering that will stand out in the market."
Sky-Futures is headquartered in Hayes, Middlesex with a training academy in Moreton-in-Marsh, Gloucestershire. The company has an established global footprint with a franchise in Malaysia and partners in the Middle East which provide the platform for the company’s ambitious growth plans and align with ICR’s strategic plans.
ICR is backed by funds provided by Graphite Capital, ICR’s private equity investors. The terms of the transaction were not disclosed.
ICR specialises in integrity, corrosion, maintenance and repair solutions with market-leading products including Quickflange weldless connection technology and Technowap engineered composite repair solutions. With an expanding global footprint, ICR currently has operational bases in the UK (Aberdeen and Kendal), Norway, Australia, US, and the UAE as well as key partners extending ICR’s global reach.
Financial diligence for the purchasers was provided by RSM, legal advice by CMS-Cameron McKenna Nabarro Olswang and commercial diligence by Calash. The vendors were advised by Simmons Energy | A Division of Piper Jaffray with tax advice from ParisiTax and legal advice from Taylor Vinters.
ICR Integrity Ltd (ICR) is a leading provider of integrated maintenance, repair and production solutions for industrial related services to the offshore Oil and Gas, Power, Chemical, Nuclear and Defence industries worldwide. ICR has a proven and diverse track record delivering bespoke, internationally accredited products and services, with an unrivalled track record in performance and safety.