IRELAND - Montagu looks to sell Survitec Group

The company, which supplies survival equipment to the marine, defence, and aerospace sectors, is expected to attract interest from trade and private equity buyers.

Survitec provides lifeboats and lifejackets to the US Navy. It has six manufacturing sites, along with 12 service and distribution centres around the world.

In 2004, Montagu bought Survitec from Alchemy Partners in a management buyout. Barclays provided a £105m loan package to back the deal.

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