Survivtech changes hands for £450m
CANADIAN private equity firm Onex has bought safety and survival equipment maker Survitec from Warburg Pincus for £450m.
Survitec, which makes equipment from lifejackets to anti-gravity suits, had £234m in revenues in the year to March 31, 2014.
The company has a manufacturing site at Birkenhead and its head office in Southampton.
Warburg Pincus bought Survitec from private equity group Montagu in 2010 for £280m.
