UK - Montagu looks to part with Survitec

NM Rothschild has been appointed to handle the sale. It has been reported that the advisory firm has since received a number of inquiries about the company, prompting Montagu to request a formal sale process.

Ireland-based Survitec produces and distributes survival equipment for the marine, military, aerospace and homeland security markets. The company makes antipressure G-Suits for helicopter and fighter pilots, safety equipment for Eurofighter aircraft and tents for the Red Cross. Survitec employs around 1,100 people at its seven manufacturing sites and 13 service and distribution centres around the world. Its head office is located in Dunmurry in Northern Ireland.

Montagu acquired Survitec through acquisition vehicle SGL Holdings in a £146m secondary buyout from Alchemy Partners in 2004. Montagu assumed a majority stake in the business with management holding the balance of the equity in the transaction. Barclays arranged the debt package to facilitate the deal.

It has been said that Montagu will cancel the sale if bidders do not meet the firm's expected price by Christmas.

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