Bridgepoint, one of the world's leading mid-market investors, today announced that it has agreed to invest in UMag Solutions ("UMag"), a Danish defence technology company specialising in drone-based real-time subsurface threat detection on land and sea.
The transaction sees Bridgepoint acquire a majority stake in the company, partnering with its founders, who will remain significant shareholders and continue to lead the business.
Founded in 2018 as a spin-out from the Technical University of Denmark and headquartered in Birkerød, Denmark, UMag is a founder-led defence technology company developing advanced drone-based detection systems. Its technology combines proprietary hardware, advanced detection algorithms and software to deliver ultra-sensitive detection and reliable, real-time intelligence. This enables operators to identify hidden threats with greater accuracy and speed, make better-informed decisions and reduce risk in the field. Its systems are used to detect and map landmines, unexploded ordnance and naval mines, as well as submarines and unmanned underwater vehicles.
UMag has experienced rapid growth against a backdrop of rising defence spending across Europe, increased investment in military modernisation programmes and growing demand for advanced mine-detection and maritime security capabilities. The company serves customers across NATO and allied nations and has established trusted relationships with military customers and drone platform manufacturers.
Bridgepoint will support UMag in scaling its commercial organisation, accelerating international expansion, strengthening strategic partnerships, continuing investment in research and development, and commercialising its next generation of products.
Arne Døssing Andreasen, CEO and Co-Founder of UMag Solutions, commented:
“UMag Solutions develops the world's most advanced magnetic sensing solutions for subsurface threat detection on land and at sea. Since founding the company in 2018, we have pursued a clear mission: to demonstrate how ultra-sensitive quantum magnetic technology can redefine the future of landmine and naval mine detection, as well as anti-submarine warfare. As founders, we have established UMag as a global leader in magnetic sensing for autonomous systems, with battle-proven technologies already deployed and a strong pipeline of next-generation solutions under development. We are now ready for the next phase of our growth. By partnering with Bridgepoint, we gain the expertise, commercial capabilities and strategic reach needed to accelerate our growth and deliver our technologies at greater scale. Together, we are strengthening UMag's position as a trusted partner to defence organisations around the world while advancing the next generation of autonomous magnetic sensing solutions."
Chris Bley, Partner and Co-Head of the Nordics at Bridgepoint, said:
“UMag represents an opportunity to back an exceptional founder-led business operating in a rapidly growing area of defence technology. We have been particularly impressed by the quality of the management team and by the company's differentiated technology. We look forward to working alongside the team to support UMag's international expansion, continued investment in innovation and the next stage of the company's growth."
Carlos Sanz, Partner and Head of Advanced Industrials at Bridgepoint, said:
“The defence sector is undergoing a period of significant technological transformation as governments across NATO and allied nations continue to invest in modernising their capabilities to address increasingly complex security challenges. This is driving increased adoption of autonomous systems and advanced sensing technologies. Within this landscape, UMag stands out through its differentiated technology, strong engineering capabilities and its ability to solve complex operational challenges for defence customers. We are excited to support the founders in driving the next phase of UMag's growth.”
Bridgepoint was advised by Evercore (Lead M&A Advisor) & EY (M&A Advisor), Oliver Wyman (Commercial), EY (Financial and Tax), and BAHR (Legal).
UMag was advised by PwC Corporate Finance (M&A Advisor), PwC TS (Financial) and Plesner (Legal)
The transaction is subject to customary regulatory approvals. Financial terms of the transaction were not disclosed.