Survitec’s growth plans boosted by £27.5m funding facility
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A safety and survival specialist working across the maritime, defence & government, energy, and aerospace markets, has secured a £27.5m funding facility.
Survitec, which has 20,000 sq ft manufacturing site in Birkenhead employing more than 200 people in the region, will use the Super Senior Revolving Capital Facility (RCF) with Santander UK to support growth plans for its survival technology products and services.
This new facility is in addition to the recently finalised £270m refinancing announced by the company in April.
The new RCF is complemented by a foreign exchange facility, which is also provided by Santander UK.
Ray Leclercq, Survitec’s CFO, said: “This transaction is a demonstration of confidence by one of the UK’s leading banks in Survitec’s business, our growth plans and our ability to execute those plans.
“This complements other key 2021 Survitec milestones, including completion of a £270m refinancing and the acquisition of Hansen Protection.”
In May 2021, Survitec announced the acquisition of Hansen Protection, a leading European provider of protective wear for the energy, defence and agriculture sectors.
“Adding Hansen Protection’s highly regarded products to Survitec’s portfolio is consistent with our goal to be a single global partner for maritime and defence customers across the globe,” added Mr Leclercq.
Chris Thomas, Director, Structured Finance, Santander UK said, “Survitec is a global leader in the survival and safety solutions markets.
“We are delighted to provide funding to support the next important phase of its growth strategy.”