Survitec Completes Blue Anchor Acquisition
U.K.-based safety and survival solutions provider Survitec said it has completed its acquisition of Blue Anchor Fire & Safety, a Scottish provider of survival solutions to the fisheries, maritime and offshore energy industries.
The investment, part of Survitec’s expansion strategy, follows the acquisition in May of Norway’s Hansen Protection, a provider of personal protective equipment.
Baba Devani, Chief Executive Officer, Marine, Survitec, said, “We are delighted to announce this acquisition, which marks another step forward in our strategic growth plan.
“With a similar offering, together with shared values in terms of quality and customer value, Blue Anchor is an excellent fit for Survitec. This investment allows us to enhance our capabilities across the region.”
Blue Anchor offers survival solutions, including servicing, liferaft rental and product supply, to a significant proportion of the U.K. fishing fleet; operates an MCA-approved liferaft service station in Boyndie, Scotland; is a leading supplier of fire safety equipment to the Scottish fleets; and is one of only a handful of UKAS accredited companies certified to carry out gas cylinder testing in the country.
The company has achieved year-on-year growth since it was established in 2006, particularly in the fisheries and aquaculture business, which accounts for 60% of its revenue.
Growth has also been supported by investment in the liferaft hire fleet, with over 700 SOLAS approved liferafts in operation.
“The transaction supports our objective to improve our coverage in attractive markets,” said Devani.
Blue Anchor co-founder Scott Skinner, who will continue at Blue Anchor as Operations Manager, said, “It is testament to the commitment and dedication of all my colleagues that Blue Anchor can generate interest from a global player like Survitec.
“By becoming a part of the Survitec family, our customers now have access to a larger portfolio of products and service network. The acquisition offers scope to increase the utilization rate of existing sites in Scotland and develop new ones. Survitec’s presence across Scottish ports provides the opportunity for expansion across the UK including the Scottish Islands.”
Blue Anchor’s existing sites in Boyndie (Banff) and Fraserburgh, North East Scotland, are considered large enough to accommodate growth in liferaft servicing, gas cylinder inspections, and increased utilization of its warehouses and workshops shot blasting and painting facilities.