Onex Completes Buy of Survitec from Warburg
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Onex Completes Buy of Survitec from Warburg

survivtec nf1Onex Corporation has completed the acquisition of Survitec Group, a portfolio company of Warburg Pincus, for £450 million in partnership with the company’s management team. Warburg Pincus acquired the company from Montagu Private Equity in January 2010 for £280 million.

Survitec is a provider of marine, defense and aerospace survival equipment. Products include life-rafts, life-jackets, immersion and survival suits, flares, ropes and rigging, submarine escape suits and other products. The company’s customers include the UK Ministry of Defense, US Navy, US Air Force, Royal Australian Air Force, Royal Australian Navy, Shell, Lockheed Martin, BAE Systems, Carnival Cruise Lines, Royal Caribbean Cruises, Princess Cruises, and others.

Survitec has a global manufacturing, distribution and service network of 600 locations and is headquartered in Southampton, UK (www.survitecgroup.com).

Onex Corporation makes private equity investments through the Onex Partners and the ONCAP families of funds. Onex has more than $21 billion of assets under management and is based in Toronto with additional offices in New York and London.  Onex shares trade on the Toronto Stock Exchange under the stock symbol OCX (www.onex.com).

Warburg Pincus has more than $37 billion in assets under management and has raised 14 private equity funds which have invested more than $50 billion in approximately 720 companies in 35 countries. The firm was founded in 1966 and is headquartered in New York with offices in Amsterdam, Beijing, Frankfurt, Hong Kong, London, Luxembourg, Mumbai, Mauritius, San Francisco, Sao Paulo and Shanghai (www.warburgpincus.com).

© 2015 PEPD • Private Equity’s Leading News Magazine • 3-12-15

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