by DRONELIFE Staff Writer Ian M. Crosby
Today, Volatus Aerospace announced that it has finalized its acquisitions of Synergy Aviation of Edmonton Alberta, which was first announced on October 13, 2022, and of iRed Remote Sensing of Emsworth, England, first announced on October 28, 2022.
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Through its acquisition of Synergy Aviation, Volatus has achieved a position of influence within the sector of Oil and Gas infrastructure monitoring, possessing the ability to institute green drone technologies that will grant a competitive advantage for growth within the industry. Furthermore, the company’s acquisition of iRed will bolster its offerings within the infrared inspection field, as well as further extending the range of Volatus’s influence within the UK and Europe.
“The addition of these two companies adds approximately $7.5MM in proforma revenue and $1MM in proforma EBITDA for the first nine months bringing Volatus proforma revenue to $30MM with a proforma EBITDA of ($1.63MM) for the first 3 quarter,” said Volatus Aerospace CFO Abhinav Signhvi. “The strong sales and positive EBITDA are particularly encouraging on the heels of our recently reported Q3 2022 revenue of $11.12MM with an EBITDA of $39,547.”
“Our M&A strategy of adding accretive companies such as these to our portfolio provides added financial strength and strategic advantage consistent with our long-term vision,” added Volatus Aerospace CEO Glen Lynch.
Read more about Volatus:
- Volatus Acquires iRed Remote Sensing: Thermographic Survey
- Volatus Acquires Synergy Aviation: More than 500,000 km of Pipeline Right of Way Surveillance
- BVLOS Flight, No Visual Observers: Volatus and FlightOps Receive Cert in Canada
- Volatus Aerospace and Iris Automation Partner on BVLOS Flight Solutions
- BVLOS Flight in Canada: Volatus Granted SFOC to Fly Across the Country
Ian attended Dominican University of California, where he received a BA in English in 2019. With a lifelong passion for writing and storytelling and a keen interest in technology, he is now contributing to DroneLife as a staff writer.
Miriam McNabb is the Editor-in-Chief of DRONELIFE and CEO of JobForDrones, a professional drone services marketplace, and a fascinated observer of the emerging drone industry and the regulatory environment for drones. Miriam has penned over 3,000 articles focused on the commercial drone space and is an international speaker and recognized figure in the industry. Miriam has a degree from the University of Chicago and over 20 years of experience in high tech sales and marketing for new technologies.
For drone industry consulting or writing, Email Miriam.
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