Novacap, through NOVACAP TMT IV Fund, has acquired Leading Edge Geomatics, a provider of aerial survey and geomatics services and solutions. Financial terms were not disclosed.
Bruce Hogan, Bill Kidman and Will Lowry, Leading Edge’s founders will continue to operate the business and maintain a significant interest in the company’s ownership.
Novacap’s investment will further accelerate growth through expansion into new markets, drive strategic acquisitions and continue investments in research and development of the company’s industry leading decision-support solutions.
Lincoln, New Brunswick based Leading Edge provides end-to-end aerial lidar surveying services, complete with unique data processing capabilities and industry leading decision support solutions. The company owns and operates its fleet of aircrafts for lidar data collection for end-users across various industries to better manage their assets. The company has developed its proprietary Enhanced Forestry Inventory management solution, combining lidar terrain and surface products to offer forest professionals the combination of forest metrics and terrain data that lead to an improved management strategy and efficiency in operations. Leveraging their experience and technology, the company developed its Powerline Mapping solution to support utility companies in better managing hazardous vegetation for thousands of kilometers of powerlines throughout North America.
“Novacap is excited to join forces with Leading Edge and continue investing in people and products, and will support the company in finding new market opportunities to bring the business to the next level,” said Yong Kwon, Partner at Novacap. “Over the last decade, Leading Edge has delivered best-in-class aerial lidar services and industry leading solutions to the forestry, utility and other sectors and we look forward to partnering with the company to help execute an aggressive growth plan and truly bring the business to new heights.”
“We see tremendous growth opportunities in the market for Leading Edge and know we have picked a strong partner with deep operational expertise to help us deliver on this potential,” said Bruce Hogan, CEO & co-founder. “We couldn’t be more excited about the future for the business and what this means for New Brunswick and our key stakeholders.”
Leading Edge was advised by Confederation M&A, an Atlantic Canada-based boutique M&A advisory firm.
photo credit: Leading Edge Geomatics