- MyDefence, a Danish specialist developer of counter drone technology, announces new investment via the Bridgepoint Development Capital IV fund.
- Bridgepoint will support MyDefence in its next stage of growth, including further investments in research and development as well as production expansion.
MyDefence, a leading provider of counter unmanned aerial systems, known as C-UAS or counter drone technology, has announced the global private equity group, Bridgepoint, as its new majority shareholder. The partnership leverages Bridgepoint’s strong track record of supporting international expansion and growth in global technology and advanced industrial sectors. The investment was made via Bridgepoint Development Capital IV (“BDC”), a fund focused on investing in mid-market growth business across Europe.
MyDefence develops radio frequency-powered products to detect and defeat unmanned aerial systems, such as drones. The company’s products can be worn by personnel or mounted to vehicles and buildings, and its technology is used to protect military or civilian critical infrastructure from the safety risks posed by hostile drones. The company has delivered 115% compound annual revenue growth over the last four years and is well-positioned to become a leader in the $1.1 billion addressable market for drone countermeasure solutions with its unique product offering.
With access to capital and strategic support from Bridgepoint, MyDefence is advantageously placed to expand its reach globally and reinforce its position as a leader in C-UAS and other technologies with civil and defence applications. The partnership will enable MyDefence’s next phase of growth with a focus on the scaling of production, professionalization, and research and development.
Dan Hermansen, CEO at MyDefence, said:
“We are delighted to partner with the Bridgepoint team. Their extensive presence worldwide and their experience helping companies grow is valuable to us. Adding us to Bridgepoint’s vast network not only gives us financial support, but it also puts us on a path for faster development and innovation. C-UAS systems are among the most important next-generation defence technologies and MyDefence is at the forefront of all cutting-edge innovations required to meet the difficulties facing drone defence today.”
Johan Gustafsson, Partner at Bridgepoint Development Capital, said:
“We have built a very strong relationship with Dan and his team, whose wealth of experience bridges the defence and security arenas. With a suite of products at the forefront of technology, MyDefence enjoys an enviable position in the market, underpinned by a robust orderbook and pipeline with significant scale-up opportunities. We look forward to leveraging the complete breadth of capabilities across our international network to help realise this exciting next stage of MyDefence’s journey.”
Poised for global expansion and further innovation
With a significant number of C-UAS systems supplied already, MyDefence has proven to be a dependable technology-provider in the defence industry. With the support of Bridgepoint, MyDefence is now ready to expand its technology offering, not only in defence but additionally in corporate, governmental and homeland security sectors.
This reflects the growing demand for comprehensive security measures against hostile drone threats across a range of applications, including the protection of critical infrastructure, including utilities like gas and electricity, public venues like stadia and event spaces, and high-security institutions such as prisons.
Financial terms of the transaction were not disclosed.
MyDefence was advised by PwC (M&A adviser), Plesner (legal adviser), and KPMG (financial and tax adviser). Bridgepoint was advised by SEB (M&A adviser), Accura (legal adviser, tax due diligence and structuring), Renaissance Strategic Advisers (commercial due diligence), Alvarez & Marsal (financial and operational due diligence), Crosslake (technology due diligence), ERM (ESG due diligence), and Marsh (insurance due diligence).
