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December 6, 2016

Survitec completes merger with Wilhelmsen’s marine safety business

Survitec Group, a provider of critical safety and survival technology to the marine and defence markets, has completed its merger with Wilhelmsen’s marine safety business.

Survitec Group, a provider of critical safety and survival technology to the marine and defence markets, has completed its merger with Wilhelmsen’s marine safety business.

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This transaction comprises the transfer of all Wilhelmsen Maritime Services’ (WMS) safety related systems, products, services to Survitec.

The merged business will operate under the name Survitec Group.

"We are delighted to have completed the merger with the marine safety business of Wilhelmsen Maritime Services."

With this acquisition, Survitec Group will have access to a £1.5bn addressable global market, and will have over 3,000 employees in over 35 countries.

The combined entity will have a revenue of around £400m, and create value for customers as a result of the cost and revenue synergies and the end-to-end marine safety offering.

This merger will create a comprehensive global safety solutions provider and a market-leading business with the capacity for further growth.

Survitec Group CEO Brian Stringer said:We are delighted to have completed the merger with the marine safety business of Wilhelmsen Maritime Services, creating a market leading safety solutions provider. Following our previous successful acquisitions of Survival Craft Inspectorate and Survival Offshore Systems the completion of the merger is a further step in global consolidation.

“We are delighted to have completed the merger with the marine safety business of Wilhelmsen Maritime Services, creating a market leading safety solutions provider. Following our previous successful acquisitions of Survival Craft Inspectorate and Survival Offshore Systems, the completion of the merger is a further step in global consolidation.

“The completion of the merger will create value for all our stakeholders; customers, partners, suppliers and employees. With a cradle-to-grave safety solutions portfolio now at our fingertips, this is a transformative move for Survitec and we look forward to generating long term returns.”

Following the completion of the merger, WMS now holds 20% of the combined group and has one representative on the board of directors, Wilhelmsen Maritime Services AS president & CEO Dag Schjerven.

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Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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