Survival technology leader Survitec today announced that it has completed the acquisition of Hansen Protection, a leading European provider of personal protective equipment.
The transaction reinforces Survitec as the global leader for survival technology across the maritime, defence and government, energy, and aerospace markets. Survitec’s complete portfolio and its wide-reaching footprint creates a single partner for customers across the globe.
Ron Krisanda, Executive Chairman at Survitec, commented: "The addition of Hansen Protection, and its leading portfolio in personal protective equipment, protective rainwear, and technical textile solutions, fits perfectly within Survitec.
"Our acquisition strategy is intended to broaden and deepen our offering and enhance our ability to service customers and this transaction does just that. The global reach and the combined company’s products and services will offer greater value to our customers by providing one single supplier for survival technology across a number of categories, including immersion suits, lifejackets, liferafts, marine evacuation systems, fire systems and servicing.
"Hansen Protection has built an outstanding brand, with a strong reputation for the consistent delivery of excellent products and services, and we are committed to maintaining the brand and supporting its growth.’’
Terje Gorm Hansen, CEO for Hansen Protection, added: "Joining forces with Survitec is the next logical step for the growth of our combined business. Coming together means that we can offer our customers greater capabilities and capacity, access to a larger portfolio of survival technology and wider geographic reach.
"We are two companies with a very strong alignment in culture, with safety and innovation in our DNA. Working together, we will lead the way in engineering and providing world-leading solutions for our customers across the globe."
Headquartered in Moss, Norway, with additional locations in Denmark, Germany, The Netherlands, Sweden and the UK, Hansen Protection specialises in the design, manufacturing, distribution, and servicing of personal protective equipment, protective rainwear and boat canopies and textile solutions for a variety of tasks in harsh and cold-water environments.
As part of its strategic growth plans, Survitec recently announced the finalisation of a £270 million refinancing agreement, showing strong support and confidence from the company's shareholders and lenders.
Survitec’s co-controlling shareholders, Searchlight Capital Partners, a leading global private investment firm, and M&G Investments, an international asset manager, supported the company in both the refinancing of the business and the acquisition of Hansen Protection. Hansen Protection was previously owned by the IK VII Fund, managed by IK Investment Partners.