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Montagu Private Equity to sell Survitec to Warburg Pincus
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For more information please contact:
Anthony GreensmithDirector
T: +44 161 233 6663
E: anthony.greensmith@ montagu.com
More information about Anthony Greensmith
Montagu Private Equity ("Montagu"), one of Europe’s leading private
equity companies, announces the exchange of Survitec Group
("Survitec"), the world’s leading survival technology company to
Warburg for an undisclosed sum.
Montagu led the buyout of Survitec in August 2004. Under Montagu’s ownership, Survitec has demonstrated strong growth, achieved both organically and through the completion of three highly strategic bolt-on acquisitions, which have been successfully integrated into the group. The business has a strong management team in place - Doug Baxter has recently been appointed CEO following Uel McChesney’s announced retirement. The management team has been further strengthened through other key appointments including Brian Stringer as Operations Director.
Anthony Greensmith, Director, Montagu Private Equity said:
"Survitec is 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. Survitec is yet another illustration of the strength of Montagu’s portfolio, which is diversified across a number of defensive businesses and we are confident that Survitec will continue to thrive under new ownership."
Doug Baxter, CEO of Survitec Group, said:
"During our time with Montagu we have continued to stay at the forefront of safety and survivability technology addressing the evolving needs of our customers. At the heart of Survitec’s success are the 1300 employees who work across our manufacturing and servicing sites in Europe, North America, Asia and Oceania delivering our products to more than 7,000 Survitec customers. We are extremely pleased to partner with Warburg Pincus and look forward to Survitec’s continued expansion and success under their ownership."
The transaction is expected to close in February subject to regulatory review and customary closing conditions. Montagu was advised by Rothschild, Deloitte and Hammonds.
Montagu led the buyout of Survitec in August 2004. Under Montagu’s ownership, Survitec has demonstrated strong growth, achieved both organically and through the completion of three highly strategic bolt-on acquisitions, which have been successfully integrated into the group. The business has a strong management team in place - Doug Baxter has recently been appointed CEO following Uel McChesney’s announced retirement. The management team has been further strengthened through other key appointments including Brian Stringer as Operations Director.
Anthony Greensmith, Director, Montagu Private Equity said:
"Survitec is 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. Survitec is yet another illustration of the strength of Montagu’s portfolio, which is diversified across a number of defensive businesses and we are confident that Survitec will continue to thrive under new ownership."
Doug Baxter, CEO of Survitec Group, said:
"During our time with Montagu we have continued to stay at the forefront of safety and survivability technology addressing the evolving needs of our customers. At the heart of Survitec’s success are the 1300 employees who work across our manufacturing and servicing sites in Europe, North America, Asia and Oceania delivering our products to more than 7,000 Survitec customers. We are extremely pleased to partner with Warburg Pincus and look forward to Survitec’s continued expansion and success under their ownership."
The transaction is expected to close in February subject to regulatory review and customary closing conditions. Montagu was advised by Rothschild, Deloitte and Hammonds.