Montagu wraps up Survitec sale

THE Manchester office of buyout firm Montagu Private Equity has completed the £280m sale of marine and defence equipment group Survitec.

The Northern Ireland-based company – which has a manufacturing site on the Wirral – has been acquired by private equity firm Warburg Pincus.

Montagu’s investment team led by Simon Pooler and Anthony Greensmith nearly doubled their initial investment of £146m in the business, which last year doubled its earnings and grew sales to £150m from £90m.

Mr Greensmith said: “Survitec is an excellent business whose management have been tremendous partners to Montagu.

“They have created a market leader with globally recognised brands and long-term customer relationships. We are confident that Survitec will continue to thrive under new ownership.”

Montagu was advised by Manchester-based Rothschild, Deloitte and Hammonds.
Survitec’s product portfolio include marine, defence and aviation liferafts, submarine escape technology, lifejackets for both commercial airlines and the offshore industry as well as pilot flight equipment, including anti-g clothing used for the Eurofighter and Joint Strike Fighter programmes.

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