EV Offshore
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EV Offshore - overview
Established
1999
Location
Norwich, -, UK
Primary Industry
Electronics
About
EV Offshore specializes in advanced downhole visual analytics solutions, enhancing operational efficiency for energy producers through innovative technologies such as the AIVA system. Established in 1999 in Norwich, UK, EV Offshore focuses on delivering advanced visual analytics for the oil and gas sector. The company has undergone strategic evolution to enhance its service offerings. With founders including Miguel Quevedo and Mustafa Alsoud, and guided by CEO Fraser Louden, the firm has been active in 3 significant deals.
The company’s most recent funding round was an Add-on Trade Sale on August 5, 2024, where it raised USD 45. 00 mn from Enersol, increasing the total raised to USD 69. 00 mn. EV Offshore offers the AIVA (Asset Inspection Visualization and Analytics) system, which employs video and phased array ultrasound scanning for secure wellbore data storage and analysis.
Their suite of visual analytics solutions aids in the inspection of perforation, corrosion, and valve conditions, serving energy producers across North America, the North Sea, and the Middle East, facilitating operational efficiency and safety. In 2024, EV Offshore reported revenue of USD 31. 996 mn and an EBITDA of USD 9. 928 mn.
Revenue generation is primarily through direct B2B transactions, providing specialized visual analytics tools and services, including ongoing subscriptions for the AIVA platform. Following the acquisition by Enersol, effective August 2024, EV Offshore will leverage this partnership to enhance its technological services and expand its global market presence. The acquisition aims to strengthen EV Offshore's resources in the oil and gas sector, aligning with the firm's growth strategy.
Current Investors
Dunedin
Primary Industry
Electronics
Sub Industries
Electronic Components
Website
www.evcam.com
Verticals
Manufacturing
Company Stage
Mature
Total Amount Raised
Subscriber access only
EV Offshore - timeline of key events
EV Offshore - financials
| Fiscal Year Ended | Mar 31, 2013 | Mar 31, 2014 | Mar 31, 2015 | Mar 31, 2016 | Mar 31, 2017 | Mar 31, 2018 | Mar 31, 2019 | Mar 31, 2020 | Mar 31, 2021 | Mar 31, 2022 | Mar 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 11,127,000 | 19,706,000 | 10,668,000 | 8,222,000 | 7,077,000 | 7,915,000 | 10,399,000 | 9,954,000 | - | - | - |
| % Revenue Growth (YoY) | - | 77.1% | (45.9%) | (22.9%) | (13.9%) | 11.8% | 31.4% | (4.3%) | - | - | - |
| EBITDA (USD) | 1,248,000 | 7,571,000 | 4,981,000 | 1,417,000 | 2,459,000 | 2,176,000 | 4,584,000 | 3,567,000 | - | - | - |
| Operating Income (USD) | 743,000 | 6,684,000 | 3,663,000 | (544,000) | 257,000 | (10,000) | 2,679,000 | 1,745,000 | - | - | - |
| Operating Margin | 6.7% | 33.9% | 34.3% | (6.6%) | 3.6% | (0.1%) | 25.8% | 17.5% | - | - | - |
| % EBITDA Margin | 11.2% | 38.4% | 46.7% | 17.2% | 34.7% | 27.5% | 44.1% | 35.8% | - | - | - |
| NET Income (USD) | (194,000) | 5,511,000 | 2,425,000 | (445,000) | (110,000) | (323,000) | 1,825,000 | 1,386,000 | - | - | - |
| % Net Margin | (1.7%) | 28.0% | 22.7% | (5.4%) | (1.6%) | (4.1%) | 17.5% | 13.9% | - | - | - |
EV Offshore - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on, Trade Sale | Announced | EV Offshore | - | ||||||||
| Add-on | Completed | Epidote Limited | - | ||||||||
| Secondary Buyout | Completed | EV Offshore | - | ||||||||
| Growth | Completed | EV Offshore | - |
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EV Offshore - employee data
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