AAB Secures Significant Investment for Leading North East UAV Inspection Company
- Friday, December 7, 2018
Anderson Anderson & Brown LLP (AAB), one of the UK’s leading firms of Chartered Accountants & Business Advisors, has secured Aberdeen-based UAV (Unmanned Aerial Vehicles) inspection company Air Control Entech (ACE) a significant investment to support the future growth of the company.
ACE, founded by Managing Director Kieran Hope in 2016, was established to revolutionise the way inspection work is carried out. Through his experience of the offshore inspection market, Kieran identified that off the shelf UAV’s were not fit for purpose in the often harsh offshore environment where safety is critical. Kieran founded ACE to engineer and commercialise a range of UAV’s equipped and tested for high performance and safety in the tough conditions of the North Sea.
ACE has developed their state of the art UAV fleet supported by the Oil & Gas Technology Centre, which has provided project and field trial funding as well as access to operating and inspection companies. ACE has now successfully designed, manufactured, tested and commercialised three UAV models with different capabilities to meet customer requirements. Further models are currently in development.
Brian McMurray and Michael Edwards of AAB’s Corporate Finance team worked with Kieran and the team at ACE to deliver fundraising advice, introduce potential investors and ultimately secure the desired investment. The investment will be used to increase the company’s fleet of UAV’s to meet customer demand as well as enhancing manufacturing capabilities at the newly refurbished premises located in Bridge of Don.
Brian McMurray, Head of Equity Finance commented, “We are delighted to have secured the investment needed to accelerate the growth of ACE. Having worked closely with Kieran and his team during this process, we look forward to continuing the relationship and supporting ACE in becoming a leading Scottish UAV business, servicing clients worldwide.”
Kieran added “AAB’s advice and assistance for our first EIS round was critical in securing the relationships and the investment we needed. This investment will enable ACE to continue to scale quickly, and we’re looking forward to continuing our relationship with AAB.”