PRINT THIS PAGE Montagu Private Equity announces £146m buy-out of Survitec 17/08/2004. Source: AltAssets. 
 UK-based Montagu Private Equity has beaten off significant competition to secure the £146m buy-out of survival technology firm the Survitec Group. Survitec is division of Air-Sea Survival Equipment Limited, a company controlled by the Alchemy Investment Plan.
Simon Pooler of Montagu explained his interest in the deal saying: 'Survitec has an attractive mix of predictable core earnings combined with growth from survival products with superior technology that have recently been brought to market.'
Survitec focuses on serving the marine, military, aerospace and homeland security markets. Some of its leading brands include RFD, Beaufort, DSB and Eurovinil. There was significant competition for the firm among private equity groups.
The deal is Montagu's third in recent months but the first in the UK for just over 12 months. In July it bought German sausage casings firm Kalle and German manufacturing firm Stabilus.
Montagu was renamed from HSBC Private Equity in 2003. It currently has more than £2bn under management and focuses on transactions of between £100m and £500m, with a gentle preference for the larger end of that spectrum.
It's latest fund, a £1.2bn pool raised in 2002, is currently a little more than 50 per cent invested.
Copyright © 2004 AltAssets
|
