August dives into marine safety deal

The newco has been created through the combination of Ocean Safety, Revere Survival and Typhoon International. August provided capital to support the formation of the business, as well as further funding for geographical development.

The deal marks the fifth investment from August's third fund, which closed on £200m last year.

Company
Headquartered in Southampton, 3Si group specialises in marine safety, serving the commercial, leisure and military markets. The group comprises three divisions.

Revere Survival has been a prominent marine safety brand in the US for 77 years, manufacturing and sourcing life rafts and life jackets.

Ocean Safety focuses on worldwide supply, distribution, service and hire of marine safety equipment including life rafts, life jackets and emergency positions-indicating radio beacons.

Typhoon International, established in 1947, is a manufacturer of dry suits and diving products. Customers include Nato special forces, the RNLI and the Antarctic Survey Team.

People
Doug Baxter is CEO of 3Si, and Brendan Connolly, formerly CEO of Moody International, has been appointed as chairman.

David Lonsdale is partner of August and Philip Rattle is managing director.

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• August Equity LLP