Survival suppliers expand into the US
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A SURVIVAL equipment firm with a base in Co Antrim has announced significant expansion in the USA.
Survitec, which markets safety and survival equipment and has a base in Dunmurry, has acquired a commercial marine business from Revere Supply Inc for an undisclosed sum.
The firm, which also has an office in London, was itself acquired by global private equity firm Warburg Pincus in 2010.
With the backing of its new shareholders, Survitec said it was pursuing its global expansion strategy and strengthening its position in the marine, defence and aerospace safety market.
The newly acquired business will become Survitec Survival Products Inc.
Survitec currently provides products and services to a broad range of government and commercial customers globally including the Ministry of Defence, the US Navy, the US Air Force, Shell, Lockheed Martin, BAE Systems, Carnival Cruises, Royal Caribbean Cruises and Princess Cruises.
Key products include marine, defence and aviation liferafts, world leading submarine escape technology, lifejackets for commercial airlines and the offshore industry as well as pilot flight equipment, including anti-g clothing used for the Eurofighter and JSF programmes.
Based in Jacksonville, Florida, Revere Supply Inc is a marine survival products company and a family-owned business founded in 1936.
It is a leading supplier of commercial and yachting liferafts.
Revere's client base includes commercial liferaft service stations, cruise lines, ship chandlers, as well as the US Coast Guard.
Survitec Group chief executive Doug Baxter said that bringing Revere's commercial business within the Survitec Group was a vital strategic step in expanding business both in the USA and globally.
"Revere has an extensive range of products and has built an excellent reputation with its global customer base," he said.
"We will look to take advantage of its impressive product range and excellent customer service philosophy to ensure we maintain our competitive advantage within the safety and survival industry.
"Key members of the Revere team will join Survitec to ensure continuity of customer service and assist Survitec in its expansion plans both in the US and worldwide."