Warburg Pincus-backed Survitec acquires Zodiac business

Financial details for the deal have not been disclosed; however it is believed that Warburg Pincus has not made a new investment to support the acquisition. The business will be integrated into the Survitec Group under the brand Survitec-Zodiac.

Zodiac was founded in 1898 and is a manufacturer of life rafts for merchant ships, ferries and cruise ships. Survitec sells safety and survival equipment including marine, defence and aviation life rafts and submarine escape technology. The company is based in London and Dunmurry, Northern Ireland.

Warburg Pincus acquired Survitec from Montagu Private Equity in January 2010 with a view to assisting it in pursuing a global expansion strategy involving add-on acquisitions in existing and new territories. The secondary buyout was led by Warburg's Steve Coates and was valued at £280m. Montagu previously bought Survitec for £146m in September 2004.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• UK / Ireland
• Support services
• Portfolio management
• Warburg Pincus