Onex Buys Safety Fim Survitec

Maritime Activity Reports, Inc.

January 12, 2015

Onex buys Survitec from Warburg Pincus for 450 mln stg.

Canadian private equity firm Onex has bought UK safety and survival equipment maker Survitec from Warburg Pincus for 450 million pounds ($679.7 million), Warburg Pincus said on Monday.

Survitec, which makes equipment from lifejackets to anti-gravity suits, had 234 million pounds in revenues in the year to March 31, 2014.

Warburg Pincus bought Survitec from private equity group Montagu in 2010 for 280 million pounds. Reuters reported last year that the U.S. private equity house had been looking to sell the company, potentially for over 500 million pounds.

 

Reporting By Freya Berry

Maritime Reporter Magazine Cover Jun 2019 - 80th Anniversary World Yearbook

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News