Posted on April 13, 2021
Global safety solutions specialist Survitec has announced that it has completed a £270 million refinancing with funds managed or advised by the Credit Group of Ares Management Corporation.
Ray Leclercq, Survitec’s Chief Financial Officer said, “Successfully concluding this financing demonstrates the confidence we believe that Ares and M&G have in our business.”
Speaking on the successful refinancing, Ralf Ackermann, Partner at Searchlight Capital Partners, the co-controlling shareholder of Survitec, said: “We’re pleased to have worked alongside Survitec’s other major shareholder, M&G Investments, to complete this refinancing, which will position the business well for future growth. We see ample opportunity to further strengthen Survitec’s leading position on the global stage and look forward to continuing our partnership.”
Survitec also recently announced another key element of its long-term growth plans. In March 2021, the company said it had signed an intent to purchase Hansen Protection, a leading European provider of specialist survival suits and protective equipment.
By Jake Frith
